RBI's new Dy Guv Acharya to take charge on Jan 20

Viral V Acharya will assume charge as Deputy Governor of the Reserve Bank of India on January 20, 2017.

He has been appointed for a term of three years, with effect from January 20.

"Acharya will join on January 20, 2017. As Deputy Governor, Acharya will look after the Monetary Policy and Research cluster," the RBI said in a release.

He will fill the post that fell vacant after Urjit Patel was made RBI Governor to succeed Rajan with effect from September 4. The existing three Deputy Governors of RBI are S S Mundra, N S Vishwanathan and R Gandhi.

The Government through a notification earlier today, announced the appointment of Acharya who is currently serving as C V Starr Professor of Economics, Department of Finance at the New York University-Stern School of Business since 2011.

Born in India on March 1, 1974, Acharya holds a PhD in Finance from the Stern School of Business, New York University.

During 2008-2011, he held the position as the Academic Professor of Finance at the New York University Stern School of Business.

At present, he is also the Member of the Advisory Council of the Reserve Bank of India (RBI) Academy. Among others, he also is the Member of the Academic Council of National Institute of Securities Markets (NISM), Securities and Exchange Board of India (SEBI).

He has also won a host of research awards including 2014 Chinese Finance Association Award for the best paper on Global Financial Markets, NSE best paper award at summer research conference, L Glucksman Institute (NYU Stern) Best Paper Award for 2010-11, NYSE Award for Best Paper on Equity Trading and Best Student Paper Award at FMA European Conference, 2001.

In research, his areas of interest included banking liquidity crises, corporate finance, asset pricing, international finance and general equilibrium.