New Delhi, December 28: The Appointments Committee of Cabinet has approved an appointment of Viral V. Acharya, Economics Professor at a US University as RBI Deputy Governor.
Currently (September 2016), Dr. Urjit Patel is the Governor of RBI. The Deputy Governors of RBI were Harun Rashid Khan, R. Gandhi and S S Mundra. The new deputy governor Viral V. Acharya would fill the vacancy left by the Governor this year.
The official statement did not mention the assigned portfolio to Acharya. Patel had headed the monetary policy which is now being overseen by RBI deputy governor R Gandhi as part of a widened remit.
Acharya teaches at the Stern School of Business in New York University. He has research interests in regulation of banks, corporate finance, credit risk and asset pricing.