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        Case ID :

        RBI Deputy Governor Viral Acharya quits 6 months before his term ends

        June 24, 2019

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        New Delhi, Jun 24 (PTI) RBI Deputy Governor Viral Acharya, who was in-charge of the monetary policy department, has resigned six months before the scheduled end of his term, sources said Monday

        This is the second high profile resignation in the past six months at the Reserve Bank of India (RBI). 

        In December, governor Urjit Patel resigned nearly nine months before the end of his scheduled term over differences with the government. 

        Acharya had joined the central bank on January 23 last year after Patel was elevated to the post of governor in September 2016

        The RBI is now left with three deputy governors N S Vishwanathan, B P Kanungo and M K Jain

        Acharya, a New York University economics professor who once called himself the 'poor man's Raghuram Rajan', was appointed for three years

        He took over at a time when the central bank was facing criticism for repeated changes in the rules related to deposit and withdrawal of money, post-demonetisation.

        Deputy central bank resignation signals leadership disruption as monetary policy chief steps down ahead of term end. The Deputy Governor responsible for monetary policy resigned six months before his scheduled term end, marking a second high profile leadership exit that left three deputy governors in place and implicating leadership continuity and central bank governance during ongoing monetary policy administration.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Deputy central bank resignation signals leadership disruption as monetary policy chief steps down ahead of term end.

                                The Deputy Governor responsible for monetary policy resigned six months before his scheduled term end, marking a second high profile leadership exit that left three deputy governors in place and implicating leadership continuity and central bank governance during ongoing monetary policy administration.





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