RBI Deputy Governor Viral Acharya Has resigned from his Position beore end of his term
Reserve Bank of India Deputy Governor Viral Acharya has put in his papers six months before his term ends on January 20, 2020. Acharya, who joined RBI from NewYork University's Stern School Business, was a close aide of former governor Urjit Patel and it was his fiery speech in October 2018 that brought out the difference between RBI and goverment.
Mr. Acharya, who was in charge of the monetary policy department of the RBI, reportedly resigned due to "personal reasons".
His departure is significant as it comes just a little more than six months after the resignation of Urjit Patel from the post of RBI Governor. It is also perhaps significant that Mr. Patel resigned shortly before the Bimal Jalan committee is to submit its report on whether RBI reserves could be transferred to the Centre or not.
Mr. Acharya had in October last year created a controversy by strongly alluding to the encroachment on autonomy of the central bank by the government. One of the tension points he highlighted was the treatment of the RBI reserves.
The RBI now has three Deputy Governors left , N.S. Vishwanathan, B.P. Kanungo and M.K. Jain.