In a democracy, monetary policy cannot be entirely left to technocrats any more than war can be left to generals
Acharya, who resigned after run-ins with the government last year, said the dip in financial savings is also another reason which can explain the disagreements between Mint Road and North Block
Acharya said that because the RBI does not distinguish in its rules between public and private sector banks it is forced to adopt weaker standards for the system as a whole
In an interview with Tamal Bandyopadhyay, Acharya says why some weak public sector banks should be "re-privatised" and foreign banks should be allowed a larger play
From Maruti posting first quarterly loss in 17 years, VIral Acharya on larger role of foreign banks to govt approving new education policy, here are the top news of the day
Acharya also emphasised that the time is "really ripe" for land, labour and agricultural reforms in India.
Acharya highlighted the dichotomy of India's massive economy -- Asia's third-largest -- but one where living standards are still among the lowest in the world
The position fell vacant after Viral Acharya resigned six months before the scheduled end of his term
The deputy governor rued that the heavy government borrowing is crowding out private players, but not necessarily for productive purposes
Now, all the other three deputy governors -- N S Vishwanathan, B P Kanungo and M K Jain -- have been made responsible for 12 departments each
Acharya's boss at the central bank, Shaktikanta Das, says a continuous and prolonged dependence on the government's capital infusion into banks can breed inefficiency
The deputy governor also stressed upon the need to expand the investor base in the corporate bond and government securities markets
Amid several macroeconomic challenges today, the government might have benefited from 'Harvard' economists' advice, but, judging by past record, it might not have paid them much heed, writes T N Ninan
The import of academics without any government experience at top Indian institutions was based on the belief that a mere knowledge of academic economics would be enough to serve in government
What, in fact, is surprising is it did not come months ago, with the exit of former governor Urjit Patel
Authorities may consider examining the causes underlying the ongoing frequent disruptions that are not healthy and not in the country's interest
A strong votary of the central bank's independence, Acharya likened taking reserves from the central bank to 'raiding' the balance sheet
Equity markets seem to be unfazed by the development at RBI and now look to other cues for direction
Acharya, who will return to the New York University's Stern Business School in august instead of in 2020, felt the RBI has made good progress in earning its independence