GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
2-min read

India has Potential to Become 'Economic Powerhouse': Viral Acharya

India, one of the world's fastest growing economies, is at an "exciting but challenging time" and has massive potential to become an "economic powerhouse", RBI's newly-appointed Deputy Governor and noted economist Viral Acharya has said.

Press Trust Of India

Updated:January 10, 2017, 12:19 PM IST
facebookTwittergoogleskypewhatsapp
India has Potential to Become 'Economic Powerhouse': Viral Acharya
The new Deputy RBI Governor Viral Acharya. (Image: News18)
Loading...

New York: India, one of the world's fastest growing economies, is at an "exciting but challenging time" and has massive potential to become an "economic powerhouse", RBI's newly-appointed Deputy Governor and noted economist Viral Acharya has said.

Acharya, 42, who has been appointed for a term of three years, would take charge on January 20. He would look after the Monetary Policy and Research cluster and would fill the post that became vacant after Urjit Patel was made Reserve Bank of India (RBI) Governor.

The CV Starr Professor of Economics at the Department of Finance of New York University's Stern School of Business, Acharya said India is at an "exciting but challenging time" and as one of the world's fastest growing economies, it has the massive potential to become an "economic powerhouse".

"I am thrilled to have the opportunity to help advance India's economy by contributing to policies at the RBI that can ensure the country's stable growth and are at the same time globally responsible," Acharya said in a statement issued by NYU Stern on Monday.

Acharya, also the Director of the NSE-NYU Stern Initiative on the Study of Indian Capital Markets, has received numerous awards and recognition for his research including the recent Alexandre Lamfalussy Senior Research Fellowship of the Bank for International Settlements (BIS) for 2017 and the inaugural Banque de France and Toulouse School of Economics Junior Prize in Monetary Economics and Finance in 2011.

Acharya's primary research interests are in the regulation of banks and financial institutions, measurement of systemic risk and understanding the nexus between sovereign and financial sector credit risks.

Peter Henry, Dean of NYU Stern which is one of the US' premier management education schools and research centers, described Acharya as an "outstanding and prolific scholar", who will "undoubtedly bring breadth, depth and real-world insight to this prestigious policy post in such an important emerging market in the global economy".

In his new role, Acharya will be in charge of monetary policy, foreign exchange and market operations, as well as research and statistics.

Like former RBI governor Raghuram Rajan, Acharya comes from an academic background and has also co-authored at least three papers with him.

Acharya has often praised Rajan for his work and once said "Raghu has been a great source of inspiration for me".

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Tata Steel 604.20 2.55
Sun Pharma 537.50 -4.32
HPCL 252.50 8.46
Ashok Leyland 110.45 -7.18
SBI 280.00 0.70
Company Price Change %Gain
SBI 280.15 0.72
Bharat Fin 928.95 0.65
Tata Steel 604.50 2.61
HUL 1,712.95 2.44
Apollo Tyres 226.00 1.62
Top Gainers
Company Price Change %Gain
HPCL 252.50 8.46
BPCL 325.70 7.44
IOC 151.00 6.79
Asian Paints 1,328.25 3.37
Tata Steel 605.50 2.77
Company Price Change %Gain
Asian Paints 1,327.50 3.32
Tata Steel 604.80 2.66
HUL 1,712.95 2.44
Bharti Airtel 301.05 1.21
Maruti Suzuki 7,225.00 1.10
Top Losers
Company Price Change %Gain
Sun Pharma 537.80 -4.26
Zee Entertain 425.85 -2.80
Infosys 646.70 -2.85
TCS 1,876.50 -3.02
HCL Tech 1,005.45 -2.69
Company Price Change %Gain
Sun Pharma 537.50 -4.31
Infosys 647.00 -2.81
TCS 1,879.85 -2.89
Wipro 321.30 -1.46
Axis Bank 614.70 -0.63

Live TV

Loading...
Loading...