Viral V Acharya, a professor of economics at New York University, has been appointed by government as one of the central bank's deputy governors for a term of three years, according to a statement on Wednesday.
The Reserve Bank of India had a vacancy for Deputy Governor after Urjit Patel was promoted to Governor earlier this year.
The statement did not mention which portfolio Acharya would be assigned. Patel had headed the prestigious monetary policy, which is now overseen by RBI Deputy Governor R Gandhi as part of a widened remit.
Acharya teaches at the Stern School of Business in New York university. According to his resume, he has research interests in regulation of banks, corporate finance, credit risk and asset pricing.