He has been appointed to the post for a period of three years, it said. Michal Patra filled the post and will look after the key monetary policy department. RBI hunts for best merger deal, Like us on Facebook to see similar stories, Former CBI chief Ashwani Kumar found dead at Shimla residence, says police, Happy Birthday Gauri Khan: When the star wife won hearts with her interesting quotes on hubby Shah Rukh Khan, IPL 2020: Ashwin reveals Ricky Ponting wanted him to Mankad Finch, COVID-19 to add as many as 150 million extreme poor by 2021: World Bank, Try These Planks for More Ways to Work Your Core, Kate Middleton layered a $349 checkered coat over a light-blue sweater for a cozy fall outfit, Car rental customers are prioritising sanitised vehicles, not discounts, VIDEO: Devdutt Padikkal's outrageous boundary-line catch to dismiss Shreyas Iyer, Mumbai Police’s EOW files closure report in alleged ₹25,000-crore MSC Bank scam, says it’s civil in nature, Armaan Malik, Divine, Kaam Bhari nominated at Europe Music Awards 2020, MI vs RR: Krunal Pandya's facial expression is a whole 2020 mood; Netizens can't agree more, TCS fires on all cylinders in September quarter, deal closures at $8.6 billion, Study Debunks Claim That This Popular Food Causes Inflammation, 6 Warning signs you are doing an excessive workout. Vishwanathan had resigned before the completion of his term in June citing health reasons. Copyright © 2020 Curiomedia Creative Labs LLP. Tech giants have skirted regulation because of how monopolies are defined by law. Prior to joining RBI, he was Chairman and Managing Director, Bank of Baroda (India’s second largest bank). 7 questions I get asked most often as a mental strength coach, Mercedes-Benz EQC Electric SUV to launch in India Tomorrow, Here’s Everything You Need to Know, SP Balasubrahmanyam touches feet of palanquin bearers at Sabarimala. Before his appointment as deputy governor, Dr. Patra served as the executive director of the monetary policy department of RBI—where he moved to in 2016—and as such, was an internal member of the powerful Monetary Policy Committee. Vishwanathan, The government on Wednesday appointed RBI's senior-most executive director M Rajeshwar Rao as the deputy governor of the central bank.Â, Rao was appointed to the post vacated by N. S. Vishwanathan, who stepped down three months ahead of his extended tenure on health grounds.Â, "The Appointments Committee of the Cabinet has approved the appointment of M Rajeshwar Rao, Executive Director, Reserve Bank of India to the post of Deputy Governor Reserve Bank of India (RBI)," a notification by the Department of Personnel and Training said.Â, Rao was elevated as executive director in November 2016. He will also handle other departments like Financial Markets Operations Department, Financial Markets Regulation Department including Market Intelligence, International Department, Department of Economic and Policy Research, Department of Statistics and Information Management, Corporate Strategy and Budget Department and Financial Stability Unit. More Info, About 4 RBI Deputy Governors – Two of the four deputy governors are traditionally from RBI ranks and are selected from the bank’s executive directors. On 24th June Dr. Before his appointment as deputy governor, Dr. Patra served as the executive director of the monetary policy department of RBI—where he moved to in 2016—and as such, was an internal member of the powerful Monetary Policy Committee.Earlier, Patra served as an adviser in charge of international finance, … There are 61 people have served as the deputy governor of the RBI since its establishment. M Rajeshwar Rao appointed RBI Deputy Governor By KalingaTV Bureau On Oct 7, 2020 New Delhi: The Centre on Wednesday appointed M. Rajeshwar Rao as the Deputy Governor of the Reserve Bank of India (RBI). M Rajeshwar Rao, the Executive Director of the Reserve Bank of India (RBI), has been appointed as deputy governor of the central bank. As deputy governor, Patra will look after the. Dr. Michal Patra holds the office of Deputy Governor of RBI after former Deputy Governor Viral Acharya left the office on July 23. Rao joined the RBI in 1984 and as a central banker has exposure in various aspects of central bank functioning. The post of Deputy Governor was vacant since July 23.
One is nominated from among the chairpersons of public sector banks and the other is an economist. Updated: 15 Jan 2020, 07:53 PM IST PTI RBI issues revised portfolios of deputy governors; Michael Patra is the second insider after S.S. Tarapore to become deputy governor in charge of monetary policy All rights reserved. Acharya joined the RBI as a deputy governor in January 2017, while Urjit Patel was the governor, and was in charge of monetary policy, which decides on interest rates, among other functions.At the age of 42, he became the youngest deputy governor and was supposed to serve a three-year term. At present there are 4 deputy governors of the RBI. RBI is the highest monetary authority in the country. He has previously held charge of the Risk Monitoring Department.
More Info, Monetary Policy Committee – The Monetary Policy Committee of India is responsible for fixing the benchmark interest rate in India. Rao has a Bachelor of Arts (BA) in Economics and a Master of Business Administration (MBA) from University of Cochin. The meetings of the Monetary Policy Committee are held at least 4 times a year and it publishes its decisions after each such meeting. Know how it works, A Bodybuilding Coach Shares His Top 2 Exercises to Build Bigger Hamstrings, 8 Easy ways to organise and decorate your kid’s study room, Audi Q2 variant details and specifications leaked ahead of launch, How with TikTok gone, short-format video apps are struggling with monetisation, Gurugram: 700 National Health Mission workers threaten two-day strike from Oct 12, As 'Khaleja' turns 10, Mahesh Babu hints at teaming up with Trivikram Srinivas for his next, Ben Arfa Tries Another Comeback At French Club Bordeaux, HDFC Bank to give instant loans up to Rs 40 lakh for customers' medical bills at Apollo Hospitals, If Your Period Lasts Longer Than A Week For Three Or More Cycles, Call Your Gyno, Mom-to-be Emma Roberts wows in a floral dress and matching mask for baby shower, Tata Harrier Dark Edition gets more affordable with mid-spec XT and XT+ variants, Building plan violations in several houses in DLF Phase 1, DTP to take action, Singer-songwriter Prateek Kuhad signs to American label Elektra Records, Southgate warns England stars flouting Covid rules as trio miss Wales clash. Democrats now want to rewrite those laws. Prior to taking over as the Executive Director, Rao was the Chief General Manager, Financial Markets Operations Department. The RBI's other three deputy governors are B.P. List of governors of the Reserve Bank of India No. The deputy governor gets a fixed salary of Rs 2.25 lakh per month plus allowances. Dr. Michael Patra – Dr. Patra joined the Reserve Bank of India (RBI) in 1985. He has previously held charge of the Risk Monitoring Department.Â, He has also worked as the Banking Ombudsman, New Delhi and in the Reserve Bank's regional offices at Ahmedabad, Hyderabad, Chennai and New Delhi.Â, According to the RBI Act, 1934, the central bank needs to have four deputy governorsâtwo from within the ranks, one commercial banker and another an economist to head the monetary policy department.Â, The RBI's other three deputy governors are B.P. Economics Times – Meet Michael Patra, RBI’s new deputy Governor. As an Executive Director, Rao, who has 36 years of experience at the RBI, looked after the department of statistics and information management, financial markets operation, and international department. The position was lying vacant for over four months after N S Vishwanathan retired on March 31. "The Appointments Committee of the Cabinet has approved the appointment of Shri M Rajeshwar Rao, Executive Director, Reserve Bank of India to the post of Deputy Governor, Reserve Bank of India," the Department of Personnel and Training said in a statement on Wednesday. Baby Boy Born Inside IndiGo Delhi-Bengaluru Flight, Will He Get Lifetime Free Airline Ticket? RBI Office. Kanungo, M K Jain and Michael Debabrata Patra.Â, Earlier this year, the government extended Kanungo's tenure by a year with effect from April 3, 2020.Â, Kanungo, whose term was to end on April 2, had taken charge as deputy governor in April 2017.Â, The deputy governor appointments are made for an initial period of three years and the person is eligible for reappointment.Â.
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