Viral Acharya quits as RBI Deputy Governor – All you want to know about him

New Delhi: Viral V Acharya, who was in-charge of the monetary policy department, has resigned six months before the scheduled end of his term.

Key point you must know about him:

1. Passed by the Appointments Committee of the Cabinet, Viral was been appointed to the post for three years in December 2016.
2. He filled the post that fell vacant after Urjit Patel was made RBI Governor to succeed Rajan in September 2016.
3. Viral happens to be an alumnus of IIT, Mumbai, with a degree of Bachelor of Technology in Computer Science and Engineering in 1995 and PhD in Finance from NYU-Stern in 2001.
4. He studied at the London Business School (2001-08) and served as the Academic Director of the Coller Institute of Private Equity at LBS (2007-09) and a Senior Houblon-Normal Research Fellow at the Bank of England (Summer 2008).
5. Incidentally, Viral and former RBI Governor Raghuram Rajan have more than one thing on common. The newly appointed Viral also comes from an academic background like Rajan and has also co-authored in the past at least three papers with the former RBI governor.
6. He is known for his research in theoretical and empirical analysis of systemic risks of the financial sector, its regulation and genesis in government-induced distortions, according to the profile on the NYU website.
7. Viral has been a member of SEBI's International Advisory Board and has also served as Director, NSE-NYU Stern Initiative on the Study of Indian Capital Markets.