Viral Acharya appointed as deputy governor of RBI
Indian Government has appointed Viral Acharya, a 42 years old Stern Business School of New York University professor, to the post of Deputy Governor of RBI. Viral Acharya will have a three-year term on the post; it is not yet specified that when the term will be effective. Reserve Bank of India has four positions of Deputy Governor, of which two S S Mundra &, R Gandhi got promoted within the ranks of Central bank, one is a commercial banker Vishwanathan and fourth is Viral Acharya who is an economist.
About Viral Acharya
Viral Acharya is called the Poor Man’sRajan because he also comes from the academic background like Rajan. Before his appointment to RBI, he was C.V. Starr Professor of Economics at the Stern school of Business at New York University.
Viral Acharya Biography
Viral Acharya graduated from the prestigious Indian Institute of Technology – Bombay in 1995. Later he earned Ph.D. in Finance from NYU-Stern in 2001. He was 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), according to a bio available on the NYU-Stern website.
He has been a member of the advisory scientific committee of European Systemic Risk Board (ESRB), economic advisory committee of the Financial Industry Regulation Authority (FINRA), advisory committee of Financial Sector Legislative Reforms Commission (FSLRC) of India, International Advisory Board of the Securities and Exchange Board of India, or Sebi.
He has also been on the advisory council of the Bombay Stock Exchange (BSE) Training Institute, and Academic Research Council Member of the Center for Advanced Financial Research And Learning (CAFRAL, India); and has been an academic advisor to the Federal Reserve Banks of Chicago, Cleveland, New York and Philadelphia, the Board of Governors and the Bank of Canada.
Viral Acharya has co-authored a few research papers with former Governor of RBI Raghuram Rajan.
Once he said –
“That was the day when I realized if I have Raghu [Raghuram Rajan] as my role model and even I hit 5 per cent or 10 per cent of that, I can easily pass off as poor man’s Raghu Rajan.”
- Regulation of banks and financial institutions
- Nexus of sovereign and financial credit risks
- Credit risk and valuation of corporate debt
- Asset pricing with a focus on the effects of liquidity risk
- Corporate finance
- Credit Risk
B.Tech., Computer Science, and Engineering
Indian Institute of Technology
New York University Stern School of Business