Government calls applications for RBI Deputy Governor position
Michael Patra at the Reserve Bank of India (RBI). Patra's extended term ends in January.
Applicants need to have at least 25 years of work experience in public administration or similar years of experience in Indian or international public financial institutions. Interestingly, no economics degree or experience has been made mandatory though as the head of the crucial monetary policy department, this post oversees the department of statistics, department of economic policy, and research and financial market operations and regulations.
Patra has been one of the four deputy governors in the RBI for close to six years. He is on his second one-year extension which will end in January 2025.
His predecessors to this post include former RBI governors C Rangarajan, YV Reddy and Urjit Patel who all handled the important monetary policy department before being appointed as the governor.
Patra has been an exception in the RBI because unlike most of his predecessors who were economists from outside the central bank, he has risen through the ranks.
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