By: D.K. Choudhary
Viral V. Acharya Appointed as the Fourth Deputy Governor of RBI
i. 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 on December 28, 2016.
ii. The RBI had a vacancy for deputy governor after Urjit Patel was made RBI Governor to succeed Rajan with effect from September 4. The existing three Deputy Governors of RBI are S S Mundra, N S Vishwanathan and R Gandhi.
iii. Acharya teaches at the Stern School of Business in New York University. He has research interests in regulation of banks, corporate finance, credit risk and asset pricing.
iv. Acharya has also co-authored in the past at least three papers with the former RBI governor including ‘Sovereign debt, government myopia, and the financial sector’, ‘The Internal Governance of Firms’ and ‘Government Myopia and Debt in a Dynamic Setting.
v. The applications were invited from prospective candidates to fill the post by putting out an advertisement on September 29. RBI received nearly 90 applications of people belonging to diverse backgrounds till October 21, which was the last date for sending applications.
Soli Sorabjee re-elected IIC president
i. Former attorney general Soli J Sorabjee was elected president of the India International Centre (IIC) for a second consecutive term by the board of directors of IIC on December 26, 2016
ii. Sorabjee has been working for IIC for the last two decades.He is well known to have given up cases in the Supreme Court and Delhi High Court to be able to devote time for IIC affairs.
India International Centre (IIC) :
♦ The India International Centre (IIC) is a well known non-official organisation situated in New Delhi.
♦ Its foundation stone was laid in 1960 by Japanese prince Akihito