RBI Deputy Governor Viral Acharya resigns, a term going to end 6 months later

Jun 24 2019 11:55 AM
RBI Deputy Governor Viral Acharya resigns, a term going to  end 6 months later

New Delhi: Reserve Bank of India (RBI) Deputy Governor Viral Acharya has resigned from his post. News agency PTI quoting sources said that Acharya has resigned six months before the end of his term. However, RBI sources have not yet confirmed his resignation. The RBI is likely to issue its official statement by Monday afternoon.

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It may be mentioned that Viral Acharya joined the RBI in 2017 and his three-year term was to end in January 2020. In case of confirmation of his resignation, two posts at the top level in RBI will be vacant. N.S. Vishwanathan is retiring on July 3, 2019 amid Acharya's resignation. Sparse acharyas looked at matters relating to monetary policy, research and financial stability. Vishwanathan heads the Banking Repulsive and Rich Management Department.

This is the second major high-profile resignation in the RBI within six months. In December, Governor Urjit Patel resigned nine months before the end of his term due to differences with the government. After Urjit Patel became governor in September 2016, Viral Acharya was appointed as Deputy Governor in his place. His tenure was three years. With his resignation, there are now three deputy governors left in the RBI, namely NS Vishwanathan, BP Lawgo and MK Jain.

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