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RBI Deputy Governor Viral Acharya resigns

RBI Deputy Governor Viral Acharya resigns

Reserve Bank of India (RBI) Deputy Governor Viral Acharya on 24 June told a newspaper that he has quit his role, six months before the end of his tenure.

It was reported that Acharya is returning to New York University's Stern School of Business (NYU Stern) in August, instead of February 2020 as CV Starr Professor of Economics.

Acharya, who joined RBI as a deputy governor in January, 2017 was supposed to complete three years in his role.

Background:

  • He graduated from the Indian Institute of Technology Bombay in 1995 with a Bachelor of Technology degree in Computer Science and Engineering, receiving the President of India Gold Medal for attaining the highest grade point average in his batch.
  • In his final year at IIT Bombay, he enrolled in an elective in international finance.
  • He initially joined the PhD program in computer science at New York University, but after a year switched to the PhD program in finance at New York University Stern School of Business.
  • He graduated in 2001, with his dissertation thesis titled Essays in Banking and Financial Institutions.
  • After obtaining his PhD, Acharya worked at the London Business School (LBS) from 2001 to 2008.
  • Between 2007 and 2009, he was the Academic Director of the Coller Institute of Private Equity at the LBS.
  • In 2008, he received a Houblon-Norman Senior Fellowship at the Bank of England.
  • Since 2008, he is attached to the New York University Stern School of Business (NYU Stern), where he held the C.V. Starr Professor of Economics chair.
  • On 28 December 2016, Acharya was appointed by the Central Government of India as Deputy Governor of the Reserve Bank of India for a period of three years, starting on 20 January 2017.

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