RBI says no basis to reports about Acharya quitting

Mumbai, December 10

The Reserve Bank of India on Monday denied reports that said deputy governor Viral Acharya had also quit his position.

"Reports of deputy governor Acharya also having quit are baseless and incorrect," an RBI spokesperson said. 

Within minutes of Governor Urjit Patel announcing his decision to quit, there have been reports of Acharya also following suit.

Acharya had made the October 26 speech on the need to preserve the autonomy of RBI—remarks that brought the fast plummeting relationship between between the central bank and union government into public domain.

In the over 90-minute long speech, Acharya, who is in-charge of the monetary policy department, warned of the wrath of the markets if the autonomy of a central bank is compromised. Acharya had explicitly said he had the backing of Governor Patel for making the speech. PTI