New York University’s economics professor Viral V. Acharya has been appointed as the fourth RBI deputy governor by the Government on Wednesday.
He has been appointed for a three year term, according to a statement from the government.
The Reserve Bank of India had a vacancy for a deputy governor after Urjit Patel became the governor in September.
The division of the portfolios is internally decided by RBI. The key portfolio of monetary policy, which was being handled by Patel, is currently overseen by R Gandhi. SS Mundra handles the banking supervision department among others. NS Vishwanathan, the third deputy governor handles banking regulation.
Acharya teaches at the Stern School of Business in New York University. According to his resume, he has research interests in regulation of banks, corporate finance, credit risk and asset pricing.
Previously, he has been a member of the Committee of Financial Sector Legislative Reforms Commission in India and also served on the International Advisory Board of Securities and Exchange Board of India.