Patra was earlier an executive director of the Reserve Bank. He has been central to the RBI’s views on the macro-economy, the new inflation targeting framework and the liquidity framework.
Patra is a Phd in Economics from the Indian Institute of Technology, Mumbai. Before moving to the Monetary Policy department in October 2005, he was an adviser in the department of economic analysis and policy in charge of international finance, money and banking.
He has served in various capacities in the RBI which he joined in 1985.
Patra is a fellow of the Harvard University where he undertook post doctoral research in the area of financial stability.