Viral Acharya takes charge as RBI deputy governor

He is appointed for a three-year term and will be in charge of monetary policy department

Reserve Bank of India’s (RBI) new deputy governor Viral Acharya took charge on Monday for a three-year term. 

The central bank reallocated portfolios of other deputy governors, following the assumption of charge by Acharya. He will be handling eight departments. Apart from the monetary policy and economic research departments, he would be in charge of corporate strategy and budget department, department of corporate services, department of statistics & information management, financial markets operations department, financial markets regulation department and international department. 

The monetary policy department, economic policy and research departments were earlier with R Gandhi, whose term comes to an end this month. 

Deputy governor S S Mundra has been given charge of the consumer education and protection and human resources department while N S Vishwanathan will look after the department of banking regulation and department of communication.

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, Acharya was with 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).