“India is at an exciting but challenging time” -Governance Now

“India is at an exciting but challenging time”

Reserve Bank of India’s new deputy governor Viral Acharya said India has the massive potential to become an economic powerhouse

GN Bureau | January 20, 2017

#debuty governor #Viral Acharya #Reserve Bank of India #RBI

Viral Acharya

“India is at an exciting but challenging time,” said Viral Acharya who takes over as RBI’s deputy governor on Friday.

“As one of the world’s fastest growing economies, India has the massive potential to become an economic powerhouse,” said Acharya, the C.V. Starr Professor of Economics at the Department of Finance of NYU Stern.

In a statement on NYU Stern, Acharya said that he was thrilled to have the “opportunity to help advance India’s economy by contributing to policies at the RBI that can ensure the country’s stable growth and are at the same time globally responsible”.

Peter Henry, dean of NYU Stern, said: “We are extremely proud of our colleague Viral Acharya who has been named deputy governor of the RBI,” said “An outstanding and prolific scholar, Viral will undoubtedly bring breadth, depth and real-world insight to this prestigious policy post in such an important emerging market in the global economy.”

In his new role, professor Acharya will be in charge of monetary policy, foreign exchange and market operations, as well as research and statistics.

Acharya’s primary research interests are in the regulation of banks and financial institutions, measurement of systemic risk, and understanding the nexus between sovereign and financial sector credit risks.

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