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In his statement, Malhotra stressed that the central bank will continue to interact with all segments, including financial regulators, state governments and the Centre, to continue the Reserve Bank's legacy.

RBI will remain alert and agile to meet challenges: New Governor Malhotra

In his statement, Malhotra stressed that the central bank will continue to interact with all segments, including financial regulators, state governments and the Centre, to continue the Reserve Bank's legacy.

New RBI Governor Sanjay Malhotra on Wednesday said the central bank will maintain continuity and stability in policy matters, but emphasised on the need to remain "alert and agile" in the wake of the current global economic and political environment.
Earlier in the day, he took charge as the 26th Governor of the Reserve Bank, replacing Shaktikanta Das who demitted office after six years.
"As we have to be conscious of the fact that we do maintain continuity and stability, we cannot be stuck to it, and we have to be alert and agile to meet challenges," Malhotra said in his first interaction as Governor with media.
In his brief statement, Malhotra also stressed that the central bank will continue to interact with all segments, including financial regulators, state governments and the Centre, to continue the Reserve Bank's legacy.
"We do not have monopoly of all knowledge," he said, while stressing on the importance of wide consultations with other stakholders.
The former revenue secretary emphasised that RBI will extensively use technology to further promote financial inclusion.

Malhotra's appointment marks the continuation of a tradition of civil servants leading the central bank. 

Sanjay Malhotra Assumes Charge as 26th RBI Governor

Malhotra's appointment marks the continuation of a tradition of civil servants leading the central bank.

Sanjay Malhotra has officially taken over as the 26th Governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das, whose tenure concluded on December 10. Malhotra assumed office at the Mint Street headquarters today and is set to address the media at 3 PM.
Malhotra's appointment marks the continuation of a tradition of civil servants leading the central bank. He is the second consecutive IAS officer to hold the position, bringing with him a robust background in public administration and finance.
A "Peacetime General" Takes Charge
Dubbed as a "peacetime general," Malhotra steps into the role at a time when India's economy is largely stable, though there is heightened anticipation of potential interest rate cuts in the near future. His three-year term will see him navigating a landscape shaped by global economic uncertainties and domestic growth aspirations.
Professional Credentials
 Malhotra, a 56-year-old IAS officer of the 1990 batch from the Rajasthan cadre, boasts an illustrious career. Prior to his appointment, he served as the Union Revenue Secretary, where he played a pivotal role in enhancing tax collections. He also held the position of Chairman and Managing Director at Rural Electrification Corporation (REC) Limited, contributing significantly to India's infrastructure development.
An alumnus of IIT Kanpur, Malhotra furthered his education with a master&rsquo;s degree in Public Policy from Princeton University, USA, equipping him with a blend of technical expertise and strategic acumen.
Outlook
 Malhotra&rsquo;s leadership is expected to focus on ensuring monetary stability, fostering economic growth, and addressing challenges in the financial sector. Stakeholders will keenly watch his initial decisions, especially regarding interest rates, as he begins his tenure.

sanjay malhotra

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