Congress raises concern over RBI’s independence after deputy governor resigns

The Congress on 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 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.