Viral Acharya : poor man’s Rajan is Deputy Governor of RBI

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Viral Acharya : poor man’s Rajan is Deputy Governor of RBI
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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.

Reference: Livemint

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.”

Research Interests

  • 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

Courses Taught

  • Credit Risk

Academic Background

B.Tech., Computer Science, and Engineering
Indian Institute of Technology

Ph.D., Finance
New York University Stern School of Business

Article References:

Indian Express

The Hindu


Stern NYU

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One thought on “Viral Acharya : poor man’s Rajan is Deputy Governor of RBI

  1. Sir, Please accept my heartfelt congratulations on your promotion to the post of Day Governor,RBI, and also fondly called poor mans Rajab…
    I have been in touch with a case of my own which is a case of Remittance from HSBC HK to HSBC Bombay for USD 2million.
    The details are with Mr Nadkarni , Secretary of Ombudsman Bombay&,agreement with Ms Prashanti ,chief Nodal officer in.HSBC India.
    The.matter is clear that RBI has issued certificate to HSBC for Rs 9crs to be credited account in 1993,which has not seen the day as yet.
    I have given my full support to trace out the documents as relevant as on 1993.
    Now even with Ombudsman it has taken six months, and I am not able to understand the turn of events that Both HSBC and RBI are silent on this issue

    Sir, I prey and beg,kindly intervene and see that the amount is credited with due shares if punishment to the Banks for committing Breach of Trust,although all required documents in place.
    I will be constrained to take this matter with PMO and.Parliament if satisfactory explanation is not forth coming.and my remitted amt is credited HSBC account.
    Kindly do.the needful
    I.may be.pardoned to.use this.platform
    I am a senior citizen and need your help
    Thanking you sir
    God bless you and wish you the best for our country & your family hrough your credentials.
    A meeting may be arranged for me to explain the exact situation which is a FEMAas on 1993

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