Michael Debabrata Patra

Michael Debabrata Patra

Michael Patra is an economist, a career central banker, and a former RBI Deputy Governor who led monetary policy and helped shape India’s inflation targeting framework.

All That Glitters: Gold Reserves Surge in Challenge to Dollar’s “Exorbitant Privilege”

Central banks are hoarding gold at record pace, hedging against dollar risk and geopolitical shocks. The yellow metal may not dethrone* the greenback yet, but it is back in the game. 

Michael Debabrata Patra

August 14, 2025 at 3:27 AM IST

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Screengrab from "RBI Unlocked: Beyond the Rupee" series (JioHotstar)

Exorbitant Privilege: Why the Dollar Still Reigns Despite Headwinds

The US dollar faces political and policy headwinds, but no true rival threatens its dominance. At least, not yet. 

Michael Debabrata Patra

August 1, 2025 at 6:17 AM IST

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The Lion Roars…in India by Michael Patra

Michael Debabrata Patra

July 14, 2025 at 3:31 AM IST

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Subrat Seet

A Tall Ship And A Star To Steer Her By

“I must go down to the seas again*”—India builds ships and ports to reclaim ancient trade routes and shape a maritime future.

Michael Debabrata Patra

July 1, 2025 at 3:58 AM IST

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Giridharseeman/ Via WikiCommons

The Epoch Of Immortality Imagined

Living longer is no longer a dream. As science defies death, the idea of ageing itself may soon become just a figure of speech.

Michael Debabrata Patra

June 16, 2025 at 6:10 AM IST

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The Bond Continues... By Michael Patra

Michael Debabrata Patra

June 7, 2025 at 8:51 AM IST

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Subrat Seet

GDP — What’s In, What’s Not, And A Defence Of Its Quiet Builders

GDP is often misunderstood, misused, and maligned. But its utility depends as much on how we understand and read it as on our appreciation of it as a mirror, not a mirage.

Michael Debabrata Patra

June 2, 2025 at 4:31 AM IST

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India’s Demographic Dividend Hinges On Women’s Workforce Gains

Tapping the full potential of women in the workforce could be the game-changer the economy needs to fully reap India’s demographic dividend. 

Michael Debabrata Patra

May 22, 2025 at 10:16 AM IST

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The Bureau

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