RBI Deputy Governor Viral Acharya resigns six months before term ends: Report

RBI Deputy Goverr Viral Acharya, who was in charge of monetary policy department, has resigned on Monday six months before scheduled end of his term, as per reports. This is second high profile resignation in past six month at  Reserve Bank of India (RBI).

In December, goverr Urjit Patel resigned nearly nine months before end of his schedule term over differences with government. Acharya h joined central bank on January 23 last year after Patel was elevated to post of goverr in September 2016. RBI is w left with three deputy goverrs N S Vishwanathan, B P Kanungo and M K Jain.

Acharya, a New York University ecomics professor who once called himself 'poor man's Raghuram Rajan', was appointed on January 23, 2017, and was RBI's youngest deputy goverr post ecomic liberalisation. He took over at a time when central bank was facing criticism for repeated changes in rules related to deposit and withdrawal of money, post-demonetisation. Acharya will be returning to New York University Stern School of Business (NYU Stern) in August as CV Starr Professor of Ecomics.

Viral Acharya is in charge of Financial Stability Unit, Monetary Policy Department, Department of Ecomic and Policy Research, Financial Markets Operation Department, Financial Market Regulation Department, among ors at RBI. Apart from being an ecomist and also Deputy Goverr of Reserve Bank of India (RBI), Acharya also serves as a member of visory council of RBI Acemy and is a member of Acemic Council of  National Institute of Securities Markets (NISM), Securities and Exchange Board of India (SEBI) since 2014.

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In 1991 IIT entrance exam, Viral Acharya was ranked 5th nationally. Acharya is an IIT gruate and holds a BTech degree in Computer Science. He h received President of India Gold Medal for attaining highest gre point aver in his batch. Viral Acharya also worked at London Business School (LBS) from 2001 to 2008.

He is  recipient of Alexandre Lamfalussy Senior Research Fellowship of  Bank for International Settlements for 2017 and inaugural Banque de France and Toulouse School of Ecomics Junior Prize in Monetary Ecomics and Finance in 2011. Viral Acharya was appointed by  Central Government of India as Deputy Goverr of  Reserve Bank of India for a period of three years.

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(With PTI inputs)