RBI's Deputy Governor steps down
Indian economist and Deputy Governor of Reserve Bank of India (RBI) Viral Acharya has stepped down from his position. He joined RBI in January 2017, he was serving a three-year term as a Deputy Governor of the Reserve Bank of India, but he resigned without completing his tenure.
Rumors of him leaving the post were taking rounds since Urjit Patel resigned as the Governor RBI last year. The successor of Viral Acharya has not been announced yet, but reports suggest that the candidate may be an external person.
"The RBI is likely to look for an external candidate for Acharya's post. Monetary policy is not the domain of the current DGs," said an RBI board member.
According to a media report, Acharya had expressed his eagerness to return to his family back in the US. "I have decided to leave six months early due to unavoidable personal reasons. So much to finish in the last month! I am sticking to my schoolteacher's advice: when your work speaks for itself, don't interrupt," he said.
Pic courtesy- Hindustan Times