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:
- Passed by the Appointments Committee of the Cabinet, Viral was been appointed to the post for three years in December 2016.
- He filled the post that fell vacant after Urjit Patel was made RBI Governor to succeed Rajan in September 2016.
- 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.
- 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).
- 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.
- 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.
- 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.