Michael Debabrata Patra was on Tuesday appointed as the deputy governor of the Reserve Bank of India (RBI) for a three-year tenure, according to a Personnel Ministry order.
Viral Acharya stepped down as deputy governor of RBI in June 2019, six months before the end of his tenure, citing personal reasons.
Patra, who is the executive director of the monetary policy department, will be the fourth deputy governor of the RBI. The other three are, NS Vishwanathan, BP Kanungo and MK Jain. The RBI can have a maximum of four deputy governors.
Patra is likely to retain the monetary policy department, which was handled by Acharya, as the deputy governor. He is also part of the rate-setting six-member Monetary Policy Committee (MPC).
(with inputs from agencies)