Sanjay Malhotra Assumes Role as RBI Governor Amid Slowing Growth and Rising Inflation

The former revenue secretary takes charge as India's 26th central bank chief, pledging agility and stability in navigating economic challenges.

Sanjay Malhotra, a career bureaucrat and former revenue secretary, has been appointed as the 26th Governor of the Reserve Bank of India for a three-year term.
He succeeds Shaktikanta Das, who completed a six-year tenure marked by significant economic and monetary policy decisions.
Malhotra steps into the role during a period of slowing GDP growth, which fell to 5.4% in the July-September quarter, the lowest in seven quarters, and rising inflation, which exceeded the RBI's tolerance band in October.
At his first press conference, Malhotra emphasized the need for the central bank to remain 'alert and agile' while maintaining continuity and stability in monetary policy.
The new governor highlighted plans to leverage technology for financial inclusion and committed to engaging closely with stakeholders, including financial regulators, states, and the central government.