RBI deputy guv resignation: Congress raises RBI independence issue

Congress raises RBI independence issue on Reserve Bank of India deputy governor Viral Acharya's resignation

The Congress Monday wondered whether Reserve Bank of India Deputy Governor Viral Acharya's "abrupt decision" to resign could have anything to do with his stance on reaffirming the RBI's independence from the Modi government.

In a surprise move, Acharya has resigned from his position at the central bank merely six months ahead of the scheduled end of his three-year term, citing personal reasons.

This is the second high-profile exit from the Reserve Bank of India (RBI) in the last seven months. Earlier in December 2018, Governor Urjit Patel had resigned nearly nine months before the end of his scheduled term.

"RBI Governor, Viral Acharya's resignation comes just six months before his tenure was due to the end; could his abrupt decision have anything to do with his stance on reaffirming the RBI's independence from the current government," the Congress said on its official Twitter handle.

Catch up on all the latest Crime, National, International and Hatke news here. Also, download the new mid-day Android and iOS apps to get the latest updates

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!