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Viral Acharya resigns as deputy governor, RBI

Viral Acharya, deputy governor of the Reserve Bank of India has resigned. Acharya has been a strong votary of the central bank’s independence and has differed with governor Shaktikanta Das on the inflation trajectory, growth prospects and policy rates. He has 6 more months to go before his term expires. The RBI said Acharya has submitted a letter to the RBI informing that due to unavoidable personal circumstances, he is unable to continue his term beyond 23 July 2019. The RBI is yet to take a decision, the release from RBI added. Acharya, 45, has been the youngest deputy governor, having joined the RBI in January 2017 and handled the monetary policy department. He is planning to return to New York University as CV Starr Professor of Economics. RBI is now left with 3 deputy governors N.S. Viswanathan, B.P. Kanungo and M.K. Jain. With Viswanathan’s term ending in July, 2 deputy governor posts will be vacant.

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