New Delhi: Viral Acharya, Deputy Governor of the Reserve Bank of India (RBI), has resigned six months before his term ends, say sources. Acharya, 45, told the Business Standard newspaper he was leaving for “unavoidable personal reasons”. His reported resignation comes months after his former boss Urjit Patel stepped down as Governor of the central bank last year, amid speculation of a rift with the government. That rift had exploded when Viral Acharya, in a scathing speech just a couple of months before, had warned of “risks of undermining the central bank’s independence” as “potentially catastrophic”.
Viral Acharya is returning to the New York University Stern School of Business as an Economics professor in August, the Business Standard newspaper reported. The 45-year-old’s term was scheduled to end in February next.
Michael Patra, executive director at the RBI, and Sanjeev Sanyal, principal economic adviser at the Ministry of Finance, are among possible successors to Viral Acharya, it said.
The RBI had, in December last year, denied speculation about Viral Acharya also leaving early after Urjit Patel resigned as RBI chief.
Acharya was appointed as one of the four deputy governors at the central bank in December 2016, after Urjit Patel was promoted to be the governor.
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