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RBI Deputy Governor resigns

June 25, 2019

The Deputy Governor of Reserve Bank of India, Viral Acharya, has resigned from his position. The resignation has raised eyebrows as Acharya's three-year term was to end in next 6 months and yet he submitted his resignation.

"Unavoidable personal reasons" is reported to be the cause behind Acharya's sudden decision to leave his post.

Congress party has raised doubts that the move could have been due to the interference of the centre government in the working of RBI. Viral Acharya is said to have been an advocate for independent working of the Reserve Bank of India and resigned due to conflict with the NDA government.

Tweet by the Congress party said,RBI Governor, Viral Acharya's resignation comes just six months before his tenure was due to end; could his abrupt decision have anything to do with his stance on reaffirming the RBI's independence from the current govt. "

This is not the first high profile resignation in the Reserve Bank of India, a few months ago the Governor Urjit Patel had also resigned abruptly from his post just nine months before his term was to end.

"First Raghuram Rajan, then Urjit Patel and now #ViralAcharya all these top RBI functionaries resigned even before expiry of their respective tenure. This clearly exhibit the outside interference is demeaning the Independence of RBI under BJP's rule! tweeted Maharashtra Congress‏.

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