The Reserve Bank of India is a major setback. In fact, the deputy governor of the central bank, Viral Acharya, has resigned from his post. This is the second time within 7 months when a senior RBI official has left his post before the completion of the term. Earlier, RBI governor Urjit Patel resigned from his post stating for personal reasons in December.
Resigns 6 months ago
The important thing is that Deputy Governor Viral Acharya has left his post about six months before the completion of the term. Viral Acharya was among the big officials of RBI who were considered part of Urjit Patel's team. According to the media report, Viral Acharya will now join Professor at the New York University's Saturn School of Business. Acharya had joined the RBI as Deputy Governor for the three years on January 23, 2017. Accordingly, he has been working for the central bank for nearly 30 months.
New governor does not agree with the decisions!
For the past few months, the deputy governor, Viral Acharya, was keeping separate views of the new governor of the RBI, Das's decision. According to the media report, the views of the rare Acharya were different on the issues of inflation and growth rate in the last two monitoring policies. According to the report, even during the recent Monitoring Policy meeting, even the rare Acharya did not agree on the views of the governor's ruling dal about fiscal deficit.
Patel gave up resignation from December
Earlier in December 2018, Urjit Patel resigned from his post before completing the term of the RBI governor. Urjit Patel told in his statement that he is resigning for personal reasons. After the resignation of Urjit Patel, Shastikant Das was appointed Governor of RBI.
Third Largest Resignation In First Term Of Government
In the first tenure of the Modi government, Patel's third major resignation in terms of Indian economy was Patel's resignation. Earlier, Arvind Subramanyam had resigned from the post of Chief Economic Advisor in July 2018 for personal reasons. At the same time, Arvind Pangariya, who was the Deputy Chairman of the Policy Commission in August 2017, left the post.