Improving Monetary Transmission Through the Banking Channel: The Case for External Benchmarks in Bank Loans

• Viral V. Acharya

Affiliations

Viral V. Acharya

is the C. V. Starr Professor of Economics in the Department of Finance at New York University Stern School of Business (NYU-Stern). Viral was a deputy governor at the RBI from 23 January 2017 to 23 July 2019 in charge of monetary policy, financial markets, financial stability, and research. He was the director of the National Stock Exchange (NSE) of India and the NYU-Stern Initiative on the Study of Indian Capital Markets, a director of Western Finance Association, and a member of the Economic Advisory Committee of the Financial Industry Regulation Authority (FINRA), International Advisory Board of the Securities and Exchange Board of India (SEBI), Advisory Council of the Bombay (Mumbai) Stock Exchange (BSE) Training Institute, and Academic research council member of the Centre for Advanced Financial Research and Learning (CAFRAL, India). He has also been an academic advisor to the Federal Reserve Banks of Chicago, Cleveland, New York and Philadelphia and the Board of Governors. In addition, he is a research associate of the National Bureau of Economic Research (NBER) in corporate finance, a research affiliate at the Centre for Economic Policy Research (CEPR), and research associate of the European Corporate Governance Institute (ECGI)