RBI Deputy Governor Viral Acharya quits six months before term ends

RBI Deputy Governor Viral Acharya, who joined the central back in January 2017, was RBI’s youngest deputy governor post economic liberalisation.

Written by June 24, 2019 08:44

New Delhi: RBI Deputy Governor Viral V Acharya has resigned from his post, six months before the scheduled end of his term.  Acharya, who joined the RBI on January 23, 2017, for a three-year term, is returning to New York University Stern School of Business (NYU Stern) in August, instead of February 2020, as the CV Starr Professor of Economics.

RBI Deputy Governor Viral Acharya, who joined the central back in January 2017, was RBI’s youngest deputy governor post economic liberalisation. His tenure was to end on January 20, 2020.

During his tenure, Acharya advocated for RBI’s independence, saying that if the government does not respect its autonomy, it will incur the wrath of financial markets.

His resignation comes in the backdrop of economic growth slowing to 5.8 per cent in the fourth quarter of 2018-19. It also comes ahead of the Union Budget 2019-20 in the Parliament on July 5.

In December last year, Urjit Patel had stepped down from the post of RBI governor following differences with the government.