New Delhi, June 24: Reserve Bank of India (RBI) Deputy Governor, Viral Acharya has resigned six months before the scheduled end of his term. He had joined the RBI in 2017. Last year in December when the then RBI chief Urjit Patel resigned, speculations were rife that Acharya would also step down from the post. RBI Deputy Governor Viral Acharya Resigning After Urjit Patel News Proved Fake, Twitter Goes Berserk.
Acharya had resigned a few weeks on June 6, before the last meeting of RBI’s Monetary Policy Committee (MPC), reported Business Standard. Acharya was at loggerheads with the Centre after in one of his speeches he stressed on the need of the RBI to operate without interference of the government. Acharya had highlighted the importance of a central bank’s independence. He had said that the government’s direct intervention and interference by the in the operational matters of the RBI would negate its functional autonomy. RBI Governor Urjit Patel Steps Down: PM Narendra Modi, Arun Jaitley Hail His Services.
According to the report, Acharya is returning to New York University Stern School of Business (NYU Stern) in August, instead of February 2020 as CV Starr Professor of Economics. However, he told the media house that he resigned due to “personal reasons”. RBI’s another Deputy Governor NS Vishwanathan whose term will end in July is likely to continue for another two-years.