RBI Deputy Governor Viral Acharya resigns 6 months before term ends

Published: Jun 24, 2019, 10:25 IST | mid-day online desk |

This is the second high profile resignation in the past six months at the Reserve Bank of India (RBI). In December, governor Urjit Patel resigned nearly nine months before the end of his scheduled term

Pic/ AFP
Pic/ AFP

Viral Acharya, the RBI Deputy Governor who was put in-charge of the monetary policy department, has quit just six months before his term was scheduled to end, according to sources on Monday.

This becomes the second resignation from a high-profile in the past half year at Reserve Bank of India. Governor Urjit Patel resigned in December, nine months prior to the end of his scheduled term

This is the second high profile resignation in the past six months at the Reserve Bank of India (RBI).
In December, governor Urjit Patel resigned nearly nine months before the end of his scheduled term after he had a few conflicts with the government.

Viral Acharya joined the central bank on January 23, 2019 after Patel Urjit Patel was promoted to the post of Governor in September 2016.

The RBI now has three deputy governors N S Vishwanathan, B P Kanungo and M K Jain.
Acharya, an economics professor at New York University who once labelled himself the 'poor man's Raghuram Rajan', was appointed for three years.

He took over at a time when the central bank was facing criticism for repeated changes in the rules related to deposit and withdrawal of money, post-demonetisation.

Inputs from PTI

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