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The government on Friday re-appointed Urjit R. Patel as the Deputy Governor of the Reserve Bank of India for a further period of three years with effect from taking charge of the post on or after January 11, 2016, or, until further orders, whichever is earlier.
Patel was earlier appointed as Deputy Governor for a period of three years from January 11, 2013.
This re-appointment could be an indication that the government wants continuity at the top in RBI and Governor Raghuram Rajan too may be re-appointed. Rajan's tenure at the helm of the central bank ends in September.
Including Patel, the RBI has four Deputy Governors. The other three Deputy Governors are – HR Khan, R Gandhi and SS Mundra.
Earlier, there were some reports that either Deepak Mohanty or Michael Patra, both RBI Executive Directors, could be elevated as Deputy Governor after the completion of Patel's tenure.
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