New Delhi | The Centre on Friday extended the tenure of RBI Deputy Governor Michael Debabrata Patra by one more year.

The current tenure of Patra is to end on January 14.

The Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi, has approved Patra's re-appointment as the RBI's Deputy Governor for a further period of one year, with effect from January 15, according to an official notification.

Patra was first appointed as a Deputy Governor in January 2020 for a three-year term. He looks after the monetary policy department and is also a member of the rate-setting Monetary Policy Committee (MPC).

The three other Deputy Governors of the bank are M Rajeshwar Rao, T Rabi Sankar and Swaminathan J.