Michael Patra has been appointed deputy governor of the Reserve Bank of India, according to a Personnel Ministry order.
- Michael Patra has been appointed to the post for a period of three years from the time of his appointment.
- He will be the fourth deputy governor of the RBI. The post was lying vacant after Viral V Acharya had resigned from the post in June last year.
- The RBI, headed by Governor Shaktikanta Das, can have a maximum of four deputy governors. N S Vishwanathan, B P Kanungo and M K Jain are the other deputy governors in RBI.
Important Info :
RBI central board of directors?
- The Reserve Bank’s affairs are governed by a central board of directors. The board is appointed by the Government of India in keeping with the Reserve Bank of India Act.
- They are Appointed/nominated for a period of four years. It comprises:
- Official Directors:
- Full-time: Governor and not more than four Deputy Governors.
- Non-Official Directors
- Nominated by Government: ten Directors from various fields and two government Official.
- Others: four Directors – one each from four local boards.
Source : LiveMint