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Government appoints Viral Acharya as RBI deputy governor

A police officer stands guard in front of the Reserve Bank of India (RBI) head office in Mumbai, India, August 9, 2016. REUTERS/Danish Siddiqui/Files

MUMBAI (Reuters) - The government has appointed Viral V. Acharya, a professor of economics at New York University, as one of the Reserve Bank of India’s four deputy governors for a term of three years, according to a statement on Wednesday.

The RBI had a vacancy for deputy governor after Urjit Patel was promoted to Governor earlier this year.

The statement did not mention which portfolio Acharya would be assigned. Patel had headed the prestigious monetary policy, which is now overseen by RBI Deputy Governor R. Gandhi as part of a widened remit.

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.

Reporting by Suvashree Dey Choudhury; Editing by Rafael Nam