RBI Slaps ₹3 Crore Penalty On AmazonPay

RBI Deputy Guv Viral Acharya Quits

RBI Slaps ₹3 Crore Penalty On AmazonPay
Reserve Bank of India (RBI) Deputy Governor Viral Acharya resigned six months before the scheduled end of his term, reports said on Monday, adding that Acharya will return to the New York University. 

Acharya took up his post on January 20, 2017 for a term of three years. He is the central bank’s youngest deputy governor post-economic liberalisation. His tenure was to end on January 20, 2020.

Reports speculated that Acharya will return to the New York University as CV Starr Professor of Economics.

During his tenure, Acharya advocated for RBI’s independence, saying that if the government does not respect its autonomy, it will incur the wrath of financial markets.

His resignation comes in the backdrop of economic growth slowing to 5.8 per cent in the fourth quarter of 2018-19. It also comes ahead of the Union Budget 2019-20 in the Parliament on July 5.

In December last year, Urjit Patel had stepped down from the post of RBI governor following differences with the government.


0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.

Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are essential in order to enable you to move around the website and use its features. Without these cookies basic services cannot be provided.

Cookie generated by applications based on the PHP language. This is a general purpose identifier used to maintain user session variables. It is normally a random generated number, how it is used can be specific to the site, but a good example is maintaining a logged-in status for a user between pages.

Used on sites built with Wordpress. Tests whether or not the browser has cookies enabled
  • wordpress_test_cookie

In order to use this website we use the following technically required cookies
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

Decline all Services
Accept all Services
Would love your thoughts, please comment.x