RBI says no basis to reports about Viral Acharya quitting as Deputy Governor

“Reports of Deputy Governor Acharya also having quit are baseless and incorrect,” an RBI spokesperson told PTI

Reserve Bank of India Deputy Governor Viral Acharya. File

The Reserve Bank of India (RBI) on Monday denied speculation that Deputy Governor Viral Acharya was resigning from his post.

“Reports of Deputy Governor Acharya also having quit are baseless and incorrect,” an RBI spokesperson told PTI .

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

On October 26, Mr. Acharya spoke about the need to preserve the autonomy of the RBI.

In the over 90-minute-long speech, Mr. 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. Mr. Acharya had explicitly said he had the backing of Mr. Urjit Patel for making the speech.