RBI Deputy Governor Viral Acharya resigns 6 months before term ends
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
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
Top news stories of the day
The Dutch mystery: Sharmila's decomposed body was 'found in refrigerator'
While the Mumbai police has not been successful in locating Avdhut Shinde, who has been missing for over a month after the mysterious death of his wife Sharmila, it has been revealed that Sharmila's decaying body was recovered from the refrigerator of the rented house she resided in with Avdhut and their children. The Dutch police neither confirmed nor denied this. (Read full story)
Mumbai rains: Monsoon may arrive in 48 hours
Good news is in store for Mumbaikars irritated with the hot and humid weather — monsoon is finally expected as the new week begins. According to the Indian Meteorological Department (IMD), with the northwestward movement of the low-pressure system, enhanced rainfall activity is expected during next 48 hours on the west coast, which includes Mumbai. (Read full story)
Mumbai: Tired of police inaction, citizens nab conman in Andheri
Fed up with the pace of police work over nabbing a serial conman, a group of citizens decided to catch the fraudster who posed as a politician, director, and producer to cheat dozens of people. He would promise them a flat through his artists' quota or offer them a role in his films. (Read full story)
Passengers drugged, robbed by three 'friendly men' on Delhi-Mumbai train
The Government Railway Police (GRP) are looking for three people who drugged and robbed three commuters who were travelling from Delhi to Mumbai. The trio has been admitted to Bhabha Hospital, in Bandra, where they have been under observation for the last two days. (Read full story)
Mumbai Crime: Gang breaks into 2 shops in Palghar, leaves only with cupcakes
A gang of four, suspected to be a couple and their two children, broke into two adjacent shops in Palghar in the wee hours last week. Interestingly, one of the shops is a cake manufacturing unit, where the man broke open the shutter lock using an iron rod and pulled it up to create a narrow space to sneak into the shop. (Read full story)
Sign up for all the latest news, top galleries and trending videos from Mid-day.comSubscribe