New RBI Deputy Governor Dr Viral Acharya: Viral V. Acharya, a 42-year-old IITian is the new Deputy Governor of the Reserve Bank of India. With a scintillating bunch of academic skills, he will be the youngest Deputy Governor at the apex bank. His is the Professor of Economics at the New York University, Department of Finance.
Dr Acharya will look after the Monetary Policy and Research at the apex bank and will officially assume his duties at the office on January 20, 2017, as informed by the RBI statement released on its website. His appointment was approved by the Appointments Committee of the Cabinet.
New RBI Deputy Governor Dr Viral Acharya was chosen from amongst 100 candidates
After the RBI Governor, Urjit Patel’s elevation, the post of the Deputy Governor was lying vacant at the apex bank.
He has co-authored many research papers with the former RBI Governor Raghuram Rajan whom he considers his “great source of inspiration”. His research interest areas are the valuation of credit risk and asset pricing, regulation of banks and financial institutions, gauging the effects of liquidity risk and corporate finance.
It was for the first time that the government advertise for hiring for the post of the Deputy Governor, Acharya was thus chosen from a group of 100 candidates.
In total, the Reserve Bank of India has four Deputy Chairman posts out of which one is a commercial banker, an economist and the other two are the traditionally promoted as per the RBI rules.