![Michael Patra named new RBI deputy governor](https://images.assettype.com/fortuneindia%2F2019-10%2Fd31b2624-cf94-4a8c-a73b-443742b12f74%2FCE70ED.jpg?rect=0,551,5593,2797&w=300&q=95)
Michael Patra named new RBI deputy governor
Michael Patra, who will take over as the fourth deputy governor, is likely to manage key portfolios such as monetary policy.
Michael Patra, who will take over as the fourth deputy governor, is likely to manage key portfolios such as monetary policy.
A Fortune India special on the resignation of former RBI governor Urjit Patel, the appointment of Shaktikanta Das, and other questions surrounding the autonomy and independence of the institution.
The former economic affairs secretary has been appointed the governor of India’s central bank for a period of three years.
The RBI’s Monetary Policy Committee also retains GDP growth estimate at 7.4% for FY19.
The hostilities between the government and the RBI may have eased for now, but the equation between the two sides has changed forever.
A recent rating agency report read with Reserve Bank of India deputy governor Viral Acharya’s latest speech paints a gloomy picture for Indian state-owned banks. There are few options but to merge some good ones with the bad.