# Professor Viral Acharya discusses Raghuram Rajan's plan to rescue the Reserve Bank of India

1 Faculty News June 28, 2016 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg192x144.jpg?itok=yV529lwz)>

Excerpt from [Bloomberg](http://www.bloomberg.com/news/articles/2016-06-28/rajan-s-final-fight-resisting-opaque-plan-to-fund-india-banks) -- "'At a minimum, it looks opaque and devious,' said [Viral Acharya](http://w4.stern.nyu.edu/faculty/bio/viral-acharya), a professor of economics at New York University’s Stern School of Business. 'Setting a precedent to compromise central bank risk management for public-sector bank recapitalization could lead to repeat and more devious interventions that over time could be perceived as an attack on central bank independence.'"

[Read more](http://www.bloomberg.com/news/articles/2016-06-28/rajan-s-final-fight-resisting-opaque-plan-to-fund-india-banks)