Outspoken Deputy Governor Viral Acharya ends his RBI stint

Viral Acharya ended his stint as Deputy Goverr of Reserve Bank on Tuesday, after last month's surprise resignation where outspoken acemic chose to cut short his time in office.

Forty-five-year old Acharya will be going back to teach at New York University's Stern School of Business. Viral Acharya was one of youngest deputy goverrs in Central bank's history and was in charge of critical monetary policy department which also me him a part of rate-setting panel.

A Mumbai boy who was born and grew up in financial capital, Viral  Acharya will be most remembered for speaking his mind on protecting automy of RBI.

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His October 2018 speech, warning of wrath of markets if Government tramples on it, amid concerns including reports of Government eyeing RBI's excess reserves, was rare occasion when a top official chose to go public with RBI's concerns.

"Governments that do t respect Central banks independence will sooner or later incur wrath of financial markets, ignite ecomic fires, and come to rue day y undermined an important regulatory institution; ir wiser counterparts who invest in Central bank independence will enjoy lower costs of borrowing, love of international investors, and longer life spans," he h said.

His n-boss, Goverr Urjit Patel resigned on December 10, triggering speculation about Acharya following suit, which was denied.

His work NPA problem wherein his work focused on getting banks out of legacy issues which is an ongoing work and a stefast focus on inflation that earned him sobriquet of being a policy hawk.

Some experts, however, also question department under him getting inflation projections wrong, which may have h delayed growth-propping rate cuts. Acharya often resorted to poetry and creative arts including Bollywood songs, to explain his state of mind on various subjects.

most memorable would definitely be finding refuge in Ernest Hemingway's melancholic lines before going with majority view of cutting rates for third time in last meeting of monetary policy committee he attended.

Quoting Santiago old fisherman in vel, Viral Acharya expressed his melancholy in voting with majority: "It is better to be lucky. But I would rar be exact. nwhen luck comes, you are rey."

Quoting Bollywood numbers in speeches was ar favourite for Acharya, a passionate singer himself. In his last published speech, he praised S D Burman's minimalistic approach to music in film "Pyaasa" to drive home concern around excess government borrowing crowding out private sector.

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