RBI says no basis to reports about Acharya quitting

The Reserve Bank Monday denied speculation about deputy governor Viral Acharya also quitting his job, terming them as incorrect and baseless rumours.

"Reports of deputy governor Acharya also having quit are baseless and incorrect," an RBI spokesperson told PTI.

Within minutes of Governor Urjit Patel announcing his decision to quit, there have been reports of Acharya also following suit.

Acharya had made the October 26 speech on the need to preserve the autonomy of RBI, which got the soured central bank-government relationship out into the public domain.

In the over 90-minute long speech, Acharya, who is incharge of the monetary policy department, warned of the wrath of the markets if the autonomy of a central bank is compromised. Acharya had explicitly said he had the backing of Governor Patel for making the speech.