RBI Deputy Governor- Viral Acharya resigns

RBI Deputy Governor Viral Acharya resignation before six months his term ends of his tenure. Business Standard reported that Acharya is returning to New York University's Stern School of Business in August instead of February 2020 as CV Starr Professor of Economics.

Pointing out the instances where undermining the central bank’s independence is regressive, Archaya said it occurs when government is making efforts to dilute the central bank's policies. Acharya who has joined RBI as a Deputy Governor in January 2017 was supposed to end his term after completing three years in this role.

Interestingly, Acharya who had voted for a pause in April policy, has quoted Ernest Hemingway in his monetary policy committee meeting to explain his stance and wait for a repo cut. RBI is likely to look for an external candidate for Viral’s post.

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