Since December 2016, Kshatrapati Shivaji is working with the Asian Development Bank as an executive director.
The appointment will be for a period of three years and the person will be eligible for re-appointment.
The RBI, headed by Governor Shaktikanta Das, has four deputy governors.
Acharya is set to leave the central bank on Tuesday, six months before the scheduled end of his term in office.
Acharya will be most remembered for speaking his mind on protecting the autonomy of the RBI.
Acharya is leaving the central bank on Tuesday, six months before the scheduled end of his term in office, citing personal reasons.
In his resignation, he expressed inability to continue beyond July 23, 2019, the RBI said.
Viral Acharya would return to a teaching position at Stern School of Business, as per a news report.
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