Viral Acharya, professor at New York University (NYU) Stern has been appointed as deputy governor of Reserve Bank of India (RBI).
The 42 year old professor joined NYU Stern in 2008 and is a Ph.D in Finance from NYU Stern itself in 2001.
Acharya also has a Ph.D in Computer Science from New York University and a B Tech in Computer Science and Engineering from IIT Bombay.
The government said that Acharya will remain governor for a span of three years or until further notice.
The post fell vacant after elevation of Urjit Patel as the Governor of RBI in early September. Government said that it had received about 90 applications till October 21, the last date for sending applications.
Prior to joining NYU Stern, Acharya was a Professor of Finance and Academic Director of the Private Equity Institute at the London Business School, a Research Affiliate of the Center for Economic Policy Research and an Academic Advisor to the Bank of England.
He has published articles in the Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Business, Rand Journal of Economics, Journal of Financial Intermediation, Journal of Money, Credit and Banking, and Financial Analysts Journal.
Professor Acharya has received numerous awards and recognition for his research.
He received the Best Paper Award in Corporate Finance from the Journal of Financial Economics in 2000, Best Paper Award in Equity Trading at the Western Finance Association Meetings in 2003, Outstanding Referee Award for the Review of Financial Studies in 2003, the inaugural Lawrence G. Goldberg Prize for the Best Ph.D. in Financial Intermediation, Best Paper Award in Asset Pricing from the Journal of Financial Economics in 2005, and an inaugural Rising Star in Finance Award in 2008.
Acharya listed working with an Indian NGO that provided pre-primary and primary education to children, under list of hobbies in his biography.
He was also a fan of music composition and singing, as in 2006 he released an album – Yaadon Ke Silsile, ‘An ode to friends and some romantic moods.’