RBI Deputy Governor Viral Acharya quits 6 months before his term ends
Acharya submitted a letter to the RBI informing that due to 'unavoidable personal circumstances' he is unable to continue his term beyond July 23, 2019.
Acharya submitted a letter to the RBI informing that due to 'unavoidable personal circumstances' he is unable to continue his term beyond July 23, 2019.
That two economists of international eminence have found it impossible to serve as its governors under the current dispensation is self-revealing of the narrow straits into which India’s central bank is being forced into, which is far from edifying.
The meeting comes in the backdrop of surprise resignation by Urjit Patel earlier this week citing personal reasons.
The uncharacteristic spat between the mandarins of North Block in the Ministry of Finance (MoF) on the one hand and…
Earlier media reports claimed that RBI Governor Urjit Patel could resign at the central bank’s next board meeting on November 19.
The comments come against the backdrop of escalating tension between the government and the RBI over various issues.
Reports earlier in the day said that the government has invoked never-before-used powers under Section 7 of the RBI Act allowing it to issue directions to the central bank governor on matters of public interest.
The rift between the government and the RBI surfaced after Deputy Governor Viral Acharya in a hard-hitting speech on Friday pitched for “effective independence” of the central bank.
The Reserve Bank of India (RBI) has identified the second batch of large accounts which have defaulted in repayment of…
The Reserve Bank on Wednesday said it will set up a task force to provide a roadmap for development of…
