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RBI Deputy Governor Viral Acharya resigns six months before term ends

By Anuj Cariappa
|

New Delhi, June 24: The Deputy Governor of the Reserve Bank of India, Viral Acharya has resigned six months before the scheduled end of his term in office.

Acharya would be returning to the New York University Stern School of Business in August, Business Standard reported.

RBI Deputy Governor Viral Acharya resigns six months before term ends

Acharya was appointed as the Deputy Governor towards the end of 2016 for a term of three years.

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Business Standard quoted Acharya as saying, " a school teacher once told me, when your work speaks for itself, do not interrupt."

In his letter to the RBI, Acharya said that he was resigning due to unavoidable personal circumstances. He said that he is unable to continue with his term as Deputy Governor of RBI beyond July 23.

Acharya had made headlines last year when he spoke about the independence of the RBI. He had stressed on the importance of the RBI's independence and also said that direct intervention and interference by the government in the operational mandate of the central bank negates its functional autonomy.

His statements were viewed as a concern he had raised on behalf of Urjit Patel, who eventually quit as the RBI Governor a few months later.

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