The government today appointed Michael Patra as deputy governor of the Reserve Bank of India for three years, according to a press release by the Appointments Committee of the Cabinet.

Patra will replace Viral Acharya, who left office on July 23. He will be the fourth RBI deputy governor and will likely take over the monetary policy portfolio handled by Acharya.

Meet The New RBI Deputy Governor

Michael Patra, who joined the central bank in 1985, is currently executive director of the Monetary Policy Department. Patra has been central to the RBI’s views on the macro-economy, the new inflation targeting framework and the liquidity framework.

Patra is already a member of the MPC. As such, the person who takes over as executive director in-charge of monetary policy will be the new entrant into the committee.