RBI Deputy Governor resigns six month before terms End

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New Delhi:Viral Acharya, Reserve Bank of India’s (RBI’s) youngest deputy governor post-economic liberalisation, has resigned six months before the scheduled end of his term. Acharya, who joined the RBI on January 23, 2017, for a three-year term, is returning to New York University Stern School of Business (NYU Stern) in August, instead of February 2020, as the CV Starr Professor of Economics.

Acharya had put in his papers a few weeks before the last meeting of RBI’s Monetary Policy Committee (MPC) that was held on June 6, sources told Business Standard. His last day will be a few days before the end of July, the report added.RBI has neither confirmed nor denied the report, a spokesperson said.

However, Acharya has confirmed his departure to the business daily citing ‘unavoidable personal reasons.’ He commented: “A school teacher once told me: When your work speaks for itself, do not interrupt.Acharya had joined RBI on January 23, 2017. There was speculation that he will follow the former Governor’s Urjit Patel footsteps and leave the central bank soon after the latter resigned on December 10, 2018.Acharya is returning to the New York University Stern School of Business in August instead of February next year, according to the report.He was appointed as a deputy governor by the Indian government towards the end of 2016 for a term of three years.RBI did not respond to a Reuters request for comment outside of regular business hours.

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