#reserve bank of india governor shaktikanta das

[timebharat]

India’s Central Bank Governor Sees Better 2025 Growth Prospects

India’s Central Bank Governor, Shaktikanta Das, has expressed optimism about the country’s economic prospects for 2025. In his latest statement, he indicated that the country is likely to experience better growth in the coming year. His comments come amid challenges in the global economy, including inflationary pressures and geopolitical uncertainties.

Das emphasized that India’s strong domestic demand, coupled with structural reforms and robust financial systems, will contribute to a positive growth trajectory in 2025. He also pointed to the resilience of the Indian economy, noting that despite external challenges, India’s economic fundamentals remain strong. Furthermore, the Reserve Bank of India (RBI) is expected to continue its policy efforts to support economic stability and growth.

[news365timesindia]

[ad_1] By Anjali Sharma NEW YORK -S&P Global Ratings said on Tuesday that Indian economy is set for “resilient growth” in 2025 and projected inflation pressure to recede which will lead to “modest” easing of the monetary policy by the RBI. According to India outlook for 2025, it also retained India’s growth forecast for current fiscal at 6.8 per cent, followed by 6.9 per cent growth in 2025-26. The agency said the GDP growth print for fiscal Q2 (June-September 2024) was weaker than expected at 5.4 per cent. The growth projection by S&P Global Ratings is higher than the latest Reserve Bank of India’s (RBI) forecast for India’s GDP growth for 2024-25 at 6.6 per cent, from 7.2 per cent earlier.The fiscal impulse was slower, and pockets of weakness such as the urban middle class held back. Manufacturing growth puts some downside risk to our forecast of 6.8 per cent growth for fiscal 2025, it said. Yishrut Rana, Economist at S&P Global Ratings, said, “The Indian economy is set for resilient growth in 2025 on the back of strong urban consumption, steady service sector growth and ongoing investment in infrastructure.” We expect the central bank to ease monetary policy modestly during 2025 as inflationary pressures recede, he added. MPC, RBI retained benchmark interest rates at 6.5 per cent to control inflation but cut the cash reserve ratio (CRR) by 50 basis points to infuse liquidity into the system. Outgoing RBI Governor Shaktikanta Das had said, India’s growth story was intact as “going forward, high-frequency indicators available so far suggest that the slowdown in domestic economic activity bottomed out in the second quarter of this year and it has since recovered aided by strong festive demand and pickup in rural activities.” S&P Global Ratings said that higher labor force participation, further infrastructure and technology improvement, and stronger public and household balance sheets can support economic growth in India. The post S&P Global reports India economy ‘resilient growth’ in 2025 appeared first on Global Governance News- Asia's First Bilingual News portal for Global News and Updates. [ad_2] Source link

[news365times]

[ad_1] By Anjali Sharma NEW YORK -S&P Global Ratings said on Tuesday that Indian economy is set for “resilient growth” in 2025 and projected inflation pressure to recede which will lead to “modest” easing of the monetary policy by the RBI. According to India outlook for 2025, it also retained India’s growth forecast for current fiscal at 6.8 per cent, followed by 6.9 per cent growth in 2025-26. The agency said the GDP growth print for fiscal Q2 (June-September 2024) was weaker than expected at 5.4 per cent. The growth projection by S&P Global Ratings is higher than the latest Reserve Bank of India’s (RBI) forecast for India’s GDP growth for 2024-25 at 6.6 per cent, from 7.2 per cent earlier.The fiscal impulse was slower, and pockets of weakness such as the urban middle class held back. Manufacturing growth puts some downside risk to our forecast of 6.8 per cent growth for fiscal 2025, it said. Yishrut Rana, Economist at S&P Global Ratings, said, “The Indian economy is set for resilient growth in 2025 on the back of strong urban consumption, steady service sector growth and ongoing investment in infrastructure.” We expect the central bank to ease monetary policy modestly during 2025 as inflationary pressures recede, he added. MPC, RBI retained benchmark interest rates at 6.5 per cent to control inflation but cut the cash reserve ratio (CRR) by 50 basis points to infuse liquidity into the system. Outgoing RBI Governor Shaktikanta Das had said, India’s growth story was intact as “going forward, high-frequency indicators available so far suggest that the slowdown in domestic economic activity bottomed out in the second quarter of this year and it has since recovered aided by strong festive demand and pickup in rural activities.” S&P Global Ratings said that higher labor force participation, further infrastructure and technology improvement, and stronger public and household balance sheets can support economic growth in India. The post S&P Global reports India economy ‘resilient growth’ in 2025 appeared first on Global Governance News- Asia's First Bilingual News portal for Global News and Updates. [ad_2] Source link

[trendingnews19]

People stand in front of a Reserve Bank of India logo at the Global Fintech Fest in Mumbai, India, 5 September, 2023.Niharika Kulkarni | Nurphoto | Getty ImagesIndia has appointed a new central bank governor to replace longstanding chief Shaktikanta Das in a surprising move that some market watchers say strengthens the outlook for rate cuts early next year. The new Reserve Bank of India governor, Sanjay Malhotra, currently serves as Revenue Secretary in the Ministry of Finance and will have to deftly balance the need to prevent one of the world's fastest growing major economies from stuttering while keeping a lid on doggedly high inflation.Malhotra, an alumnus of the elite Indian Institute of Technology and Princeton University, has recently raised concerns over the health of the economy. Analysts say Malhotra's surprise appointment could initiate a shift toward a more dovish monetary policy in an economy that is expected to become the world's third-largest before the end of the decade.Das, on the other hand, has been widely considered the most hawkish member of the RBI's Monetary Policy Committee, thus his departure could influence the MPC's overall stance, said Shilan Shah, deputy chief EM economist at Capital Economics in a note on Monday."The appointment of Mr Malhotra could set a new direction for the RBI," Shah added.  Get a weekly roundup of news from India in your inbox every Thursday. Subscribe now Economists at Capital Economics are now expecting a 25-basis-point cut in India's repo rate at Malhotra's first MPC meeting in February, if not in an unscheduled meeting earlier. The group had previously predicted the rate cut would come in April under Das' leadership.Economists at Citi, who were already predicting an interest rate cut from the RBI in February, reiterated that view. Markets also appear to be sharing their expectations regarding a looser monetary policy.India's 10-year bond yields were down 2 basis points at 6.699% on Tuesday, signaling market expectations of a rate cut, while the rupee was hovering near record lows at 84.83 against the dollar, according to data from LSEG. Changing of the guardDas will leave his post as one of the RBI's longest-serving governors since India gained independence from Britain in 1947. During his term, he led India's financial sector through a period of recovery, normalized the RBI's relationship with the government and steered the economy through the Covid-19 pandemic.However, the economic backdrop has become more challenging recently. India's economy grew at its slowest pace in seven quarters in the three months through September, while inflation edged above the central bank's 6% tolerance band for the first time in over a year in October.The weakness in the economy had spurred calls for lower rates, including from senior government officials.   As per local media reports,  in November, Union Minister for Commerce and Industry Piyush Goyal urged the RBI to cut rates to boost growth, while Finance Minister Nirmala Sitharaman also called for more affordable interest rates to support local industries. In its December meeting, the MPC voted by a margin of 4:2 to keep the policy repo rate unchanged at 6.50%.While the central bank had revised India's GDP growth outlook for fiscal year 2025 down to 6.6% from 7.2% in October, Das had expressed confidence that a slowdown in the domestic economy had "bottomed out" in the September quarter.However, the Ministry of Finance has held a less positive view of growth than the RBI, which could influence incoming governor Malhotra's thinking as he heads into his first monetary policy meeting, according to Dhiraj Nim, India FX Strategist and Economist at ANZ. Already, the ANZ was predicting that RBI would carry out a total of three rate cuts starting February 2025, with inflation, excluding food, weak enough to pursue rate cuts to support growth. "The incoming governor's appointment has only boosted expectations that it will happen," said Nim.   — CNBC's Ruxandra Iordache and Anniek Bao contributed to this report. atOptions = 'key' : '6c396458fda3ada2fbfcbb375349ce34', 'format' : 'iframe', 'height' : 60, 'width' : 468, 'params' : ;

[gyanfry]

IAS Officer to New RBI Governor: Key Achievements of Sanjay Malhotra

Sanjay Malhotra, a distinguished 1990-batch IAS officer from the Rajasthan cadre, will take over as the 26th Governor of the Reserve Bank of India (RBI) on December 11, 2024. Replacing Shaktikanta Das, who served as the 25th Governor for six years, Malhotra brings over three decades of experience in governance and economic policymaking. Despite all these, people want to learn more about new RBI chief, Who is Sanjay Malhotra. Born on February 14, 1968, Malhotra holds a Bachelor’s degree in Computer Science from IIT Kanpur and a Master’s in Public Policy from Princeton University, USA. This unique combination of technical and policy expertise has enabled him to excel across diverse sectors, including finance, taxation, power, and information technology. Personal Information - Date of Birth: February 14, 1968 - Place: Bikaner, Rajasthan, India - Education: - B.Tech. in Computer Science & Engineering from IIT Kanpur (1989) - Master’s in Public Policy from Princeton University, USA Career Timeline - 1990: Joined the Indian Administrative Service (Rajasthan Cadre). - 2000–2003: - Served as Secretary to the Minister of State for Space and Minister of State for MSMEs. - Gained early exposure to national-level policymaking. - 2018–2020: - The RBI New Governor also Worked as Project Coordinator with the United Nations Industrial Development Organisation (UNIDO). - Focused on industrial development, showcasing his capability to handle global assignments. - 2020–2021: - Appointed as Secretary in the Ministry of Power, where he contributed to major power sector reforms and improved energy efficiency. - 2020–2022: - Served as Chairman and Managing Director of Rural Electrification Corporation (REC) Ltd. - The all new RBI Governor has also played a key role in financing and implementing large-scale energy projects across India. - 2022–2024: - Held the position of Revenue Secretary, Ministry of Finance, during which he achieved significant milestones: - Rationalized capital gains tax in the Union Budget. - Streamlined tax slabs to encourage migration to the new tax regime. - Removed the windfall gains tax, benefiting the oil and gas sector. Key Contributions - Economic Reforms: - Spearheaded capital gains tax rationalization and introduced policies to simplify the tax regime. - Enhanced India’s revenue growth, with direct tax collections increasing by 17% in FY 2022-23. - Banking Sector Leadership: - Oversaw a ₹2.11 lakh crore recapitalization of public sector banks while serving as Secretary in the Department of Financial Services. - Infrastructure Development: - Improved rural connectivity and irrigation systems during his tenure in Rajasthan, achieving a 12% rise in connectivity and 18% growth in irrigation access. - Power Sector Reforms: - Focused on energy-efficient initiatives and reduced state energy costs by 22% while leading REC and the Ministry of Power. - Global and Strategic Roles: - His experience with UNIDO added an international perspective to his work, making him adept at balancing global economic priorities with national goals. Sanjay Malhotra is appointed as the 26th Governor of the Reserve Bank of India pic.twitter.com/eK2m3z32ay— Upsc Civil Services Exam (@UpscforAll) December 9, 2024 As the 26th Governor of the RBI, Malhotra faces the critical tasks of managing inflation, fostering economic growth, and ensuring financial stability. His extensive experience across finance, policy, and governance positions him as a capable leader to navigate these challenges as a new Reserve Bank of India Governor. Read the full article

[cryptonewsssss]

People stand in front of a Reserve Bank of India logo at the Global Fintech Fest in Mumbai, India, 5 September, 2023.Niharika Kulkarni | Nurphoto | Getty ImagesIndia has appointed a new central bank governor to replace longstanding chief Shaktikanta Das in a surprising move that some market watchers say strengthens the outlook for rate cuts early next year. The new Reserve Bank of India governor, Sanjay Malhotra, currently serves as Revenue Secretary in the Ministry of Finance and will have to deftly balance the need to prevent one of the world's fastest growing major economies from stuttering while keeping a lid on doggedly high inflation.Malhotra, an alumnus of the elite Indian Institute of Technology and Princeton University, has recently raised concerns over the health of the economy. Analysts say Malhotra's surprise appointment could initiate a shift toward a more dovish monetary policy in an economy that is expected to become the world's third-largest before the end of the decade.Das, on the other hand, has been widely considered the most hawkish member of the RBI's Monetary Policy Committee, thus his departure could influence the MPC's overall stance, said Shilan Shah, deputy chief EM economist at Capital Economics in a note on Monday."The appointment of Mr Malhotra could set a new direction for the RBI," Shah added. Economists at Capital Economics are now expecting a 25-basis-point cut in India's repo rate at Malhotra's first MPC meeting in February, if not in an unscheduled meeting earlier. The group had previously predicted the rate cut would come in April under Das' leadership.Economists at Citi, who were already predicting an interest rate cut from the RBI in February, reiterated that view. Markets also appear to be sharing their expectations regarding a looser monetary policy.India's 10-year bond yields were down 2 basis points at 6.699% on Tuesday, signaling market expectations of a rate cut, while the rupee was hovering near record lows at 84.83 against the dollar, according to data from LSEG. Changing of the guardDas will leave his post as one of the RBI's longest-serving governors since India gained independence from Britain in 1947.  During his term, he led India's financial sector through a period of recovery, normalized the RBI's relationship with the government and steered the economy through the Covid-19 pandemic.However, the economic backdrop has become more challenging recently. India's economy grew at its slowest pace in seven quarters in the three months through September, while inflation edged above the central bank's 6% tolerance band for the first time in over a year in October.The weakness in the economy had spurred calls for lower rates, including from senior government officials.   As per local media reports,  in November, Union Minister for Commerce and Industry Piyush Goyal urged the RBI to cut rates to boost growth, while Finance Minister Nirmala Sitharaman also called for more affordable interest rates to support local industries. In its December meeting, the MPC voted by a margin of 4:2 to keep the policy repo rate unchanged at 6.50%.While the central bank had revised India's GDP growth outlook for fiscal year 2025 down to 6.6% from 7.2% in October, Das had expressed confidence that a slowdown in the domestic economy had "bottomed out" in the September quarter.However, the Ministry of Finance has held a less positive view of growth than the RBI, which could influence incoming governor Malhotra's thinking as he heads into his first monetary policy meeting, according to Dhiraj Nim, India FX Strategist and Economist at ANZ. Already, the ANZ was predicting that RBI would carry out a total of three rate cuts starting February 2025, with inflation, excluding food, weak enough to pursue rate cuts to support growth. "The incoming governor's appointment has only boosted expectations that it will happen," said Nim.   — CNBC's Ruxandra Iordache and Anniek Bao contributed to this report.

[tenders4you]

People stand in front of a Reserve Bank of India logo at the Global Fintech Fest in Mumbai, India, 5 September, 2023.Niharika Kulkarni | Nurphoto | Getty ImagesIndia has appointed a new central bank governor to replace longstanding chief Shaktikanta Das in a surprising move that some market watchers say strengthens the outlook for rate cuts early next year. The new Reserve Bank of India governor, Sanjay Malhotra, currently serves as Revenue Secretary in the Ministry of Finance and will have to deftly balance the need to prevent one of the world's fastest growing major economies from stuttering while keeping a lid on doggedly high inflation.Malhotra, an alumnus of the elite Indian Institute of Technology and Princeton University, has recently raised concerns over the health of the economy. Analysts say Malhotra's surprise appointment could initiate a shift toward a more dovish monetary policy in an economy that is expected to become the world's third-largest before the end of the decade.Das, on the other hand, has been widely considered the most hawkish member of the RBI's Monetary Policy Committee, thus his departure could influence the MPC's overall stance, said Shilan Shah, deputy chief EM economist at Capital Economics in a note on Monday."The appointment of Mr Malhotra could set a new direction for the RBI," Shah added. Economists at Capital Economics are now expecting a 25-basis-point cut in India's repo rate at Malhotra's first MPC meeting in February, if not in an unscheduled meeting earlier. The group had previously predicted the rate cut would come in April under Das' leadership.Economists at Citi, who were already predicting an interest rate cut from the RBI in February, reiterated that view. Markets also appear to be sharing their expectations regarding a looser monetary policy.India's 10-year bond yields were down 2 basis points at 6.699% on Tuesday, signaling market expectations of a rate cut, while the rupee was hovering near record lows at 84.83 against the dollar, according to data from LSEG. Changing of the guardDas will leave his post as one of the RBI's longest-serving governors since India gained independence from Britain in 1947.  During his term, he led India's financial sector through a period of recovery, normalized the RBI's relationship with the government and steered the economy through the Covid-19 pandemic.However, the economic backdrop has become more challenging recently. India's economy grew at its slowest pace in seven quarters in the three months through September, while inflation edged above the central bank's 6% tolerance band for the first time in over a year in October.The weakness in the economy had spurred calls for lower rates, including from senior government officials.   As per local media reports,  in November, Union Minister for Commerce and Industry Piyush Goyal urged the RBI to cut rates to boost growth, while Finance Minister Nirmala Sitharaman also called for more affordable interest rates to support local industries. In its December meeting, the MPC voted by a margin of 4:2 to keep the policy repo rate unchanged at 6.50%.While the central bank had revised India's GDP growth outlook for fiscal year 2025 down to 6.6% from 7.2% in October, Das had expressed confidence that a slowdown in the domestic economy had "bottomed out" in the September quarter.However, the Ministry of Finance has held a less positive view of growth than the RBI, which could influence incoming governor Malhotra's thinking as he heads into his first monetary policy meeting, according to Dhiraj Nim, India FX Strategist and Economist at ANZ. Already, the ANZ was predicting that RBI would carry out a total of three rate cuts starting February 2025, with inflation, excluding food, weak enough to pursue rate cuts to support growth. "The incoming governor's appointment has only boosted expectations that it will happen," said Nim.   — CNBC's Ruxandra Iordache and Anniek Bao contributed to this report.

[global-newz]

Sanjay Malhotra Appointed RBI Governor to Lead Inflation Battle

In a pivotal leadership transition, Sanjay Malhotra, a seasoned bureaucrat and top revenue officer, has been appointed as the new Governor of the Reserve Bank of India (RBI). Malhotra, a 1990 batch IAS officer of the Rajasthan cadre, will take charge as Shaktikanta Das completes his six-year tenure. The announcement, made by the Union Cabinet's Appointments Committee, marks a critical moment in India's ongoing fight against inflation.

From North Block to Mint Road

Having previously overseen India’s direct and indirect tax administration, Malhotra brings a wealth of experience in fiscal management. His extensive background includes leadership roles in financial services, power, mining, and IT. Like his predecessors Shaktikanta Das, D. Subbarao, Y.V. Reddy, and Bimal Jalan, Malhotra transitions from the finance ministry to helm India’s central bank, showcasing a tradition of blending fiscal expertise with monetary governance.

Inflation: A Persistent Challenge

Malhotra assumes office at a time when India is grappling with inflationary pressures. October's Consumer Price Index (CPI) inflation rate of 6.21% exceeded the RBI’s upper tolerance limit of 6%, driven by stubbornly high food prices. Tackling inflation within the RBI’s flexible 2-6% target range remains a priority for the Monetary Policy Committee (MPC).

In his final address, outgoing governor Das highlighted the importance of maintaining a vigilant anti-inflationary stance, expressing optimism that easing food price shocks would help align headline inflation with the target. However, experts predict a challenging road ahead for Malhotra, with projections of inflation normalization only by the September quarter of FY26.

New Leadership Dynamics

Malhotra’s appointment coincides with significant changes in the MPC. Recently, three new external members joined the six-member committee: Ram Singh from the Delhi School of Economics, Saugata Bhattacharya, a former Axis Bank economist, and Nagesh Kumar, head of the Institute for Studies in Industrial Development. They join internal members Rajiv Ranjan, Michael Debabrata Patra (Deputy Governor), and Malhotra himself. This reshuffle sets the stage for fresh perspectives in monetary policymaking.

The February 2025 MPC meeting, Malhotra’s first as governor, is expected to be closely watched. Economists from Capital Economics anticipate a potential 25-basis-point repo rate cut, signaling a possible shift in monetary policy under the new leadership.

External Pressures and Global Challenges

The global economic environment presents additional hurdles. Geopolitical tensions, supply chain disruptions, and surging commodity prices continue to exert inflationary pressure. Protectionist policies and trade tariffs, particularly from major economies, further complicate the outlook. As governor, Malhotra must navigate these external challenges while maintaining domestic economic stability.

A Strategic Appointment

Malhotra’s tenure is set to be pivotal, with his experience in fiscal policy and governance expected to influence his approach to monetary challenges. The blend of a new governor and recently appointed MPC members is anticipated to bring a fresh outlook to the RBI’s inflation-targeting strategy.

Economists like Madhavi Arora from Emkay Global Financial Services have noted that the macroeconomic landscape in 2025 presents distinct challenges compared to earlier years. Malhotra’s leadership will be crucial in steering India’s central bank through this complex economic terrain.

Conclusion

Sanjay Malhotra’s appointment as the RBI governor marks a new chapter in India’s fight against inflation. With his fiscal expertise and a revamped MPC, Malhotra is poised to lead the RBI through economic challenges, balancing growth, stability, and inflation control in an evolving global landscape. As India watches this transition, all eyes will be on the central bank’s policy trajectory in the coming months.

[globalnews1]

People stand in front of a Reserve Bank of India logo at the Global Fintech Fest in Mumbai, India, 5 September, 2023.Niharika Kulkarni | Nurphoto | Getty ImagesIndia has appointed a new central bank governor to replace longstanding chief Shaktikanta Das in a surprising move that some market watchers say strengthens the outlook for rate cuts early next year. The new Reserve Bank of India governor, Sanjay Malhotra, currently serves as Revenue Secretary in the Ministry of Finance and will have to deftly balance the need to prevent one of the world's fastest growing major economies from stuttering while keeping a lid on doggedly high inflation.Malhotra, an alumnus of the elite Indian Institute of Technology and Princeton University, has recently raised concerns over the health of the economy. Analysts say Malhotra's surprise appointment could initiate a shift toward a more dovish monetary policy in an economy that is expected to become the world's third-largest before the end of the decade.Das, on the other hand, has been widely considered the most hawkish member of the RBI's Monetary Policy Committee, thus his departure could influence the MPC's overall stance, said Shilan Shah, deputy chief EM economist at Capital Economics in a note on Monday."The appointment of Mr Malhotra could set a new direction for the RBI," Shah added. Economists at Capital Economics are now expecting a 25-basis-point cut in India's repo rate at Malhotra's first MPC meeting in February, if not in an unscheduled meeting earlier. The group had previously predicted the rate cut would come in April under Das' leadership.Economists at Citi, who were already predicting an interest rate cut from the RBI in February, reiterated that view. Markets also appear to be sharing their expectations regarding a looser monetary policy.India's 10-year bond yields were down 2 basis points at 6.699% on Tuesday, signaling market expectations of a rate cut, while the rupee was hovering near record lows at 84.83 against the dollar, according to data from LSEG. Changing of the guardDas will leave his post as one of the RBI's longest-serving governors since India gained independence from Britain in 1947.  During his term, he led India's financial sector through a period of recovery, normalized the RBI's relationship with the government and steered the economy through the Covid-19 pandemic.However, the economic backdrop has become more challenging recently. India's economy grew at its slowest pace in seven quarters in the three months through September, while inflation edged above the central bank's 6% tolerance band for the first time in over a year in October.The weakness in the economy had spurred calls for lower rates, including from senior government officials.   As per local media reports,  in November, Union Minister for Commerce and Industry Piyush Goyal urged the RBI to cut rates to boost growth, while Finance Minister Nirmala Sitharaman also called for more affordable interest rates to support local industries. In its December meeting, the MPC voted by a margin of 4:2 to keep the policy repo rate unchanged at 6.50%.While the central bank had revised India's GDP growth outlook for fiscal year 2025 down to 6.6% from 7.2% in October, Das had expressed confidence that a slowdown in the domestic economy had "bottomed out" in the September quarter.However, the Ministry of Finance has held a less positive view of growth than the RBI, which could influence incoming governor Malhotra's thinking as he heads into his first monetary policy meeting, according to Dhiraj Nim, India FX Strategist and Economist at ANZ. Already, the ANZ was predicting that RBI would carry out a total of three rate cuts starting February 2025, with inflation, excluding food, weak enough to pursue rate cuts to support growth. "The incoming governor's appointment has only boosted expectations that it will happen," said Nim.   — CNBC's Ruxandra Iordache and Anniek Bao contributed to this report.

[latestbusinessnewsindia]

Inflation Control A Biggest Challenge For New RBI Governor: Shaktikanta Das

Restoring inflation under the Reserve Bank of India (RBI) target is the most important task ahead of the new RBI governor, stated Shaktikanta Das, the outgoing Governor of the RBI, during his final address on Tuesday before stepping down from office.

[timelessnewsnow]

In a major development, the Indian government has appointed Sanjay Malhotra as the new Governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das. Malhotra, a seasoned bureaucrat from the Rajasthan cadre, takes charge at a pivotal time for India’s economy, with inflation concerns, a weakening currency, and slowing growth. His appointment also marks the continuation of a trend where finance ministry officials have been at the helm of the central bank.

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[odnewsin]

Who is Sanjay Malhotra? Know everything about the new RBI Governor

New Delhi: A computer science engineer and master’s in public policy from Princeton University, Sanjay Malhotra, the new Governor of the Reserve Bank of India (RBI), is a known consensus builder and the person instrumental in the implementation of the new income tax regime. Malhotra, 56, is currently the Revenue Secretary in the Ministry of Finance and will succeed Shaktikanta Das, whose second…

[newsclickofficial]

ndia rejects de-dollarization narratives, with the Reserve Bank of India (RBI) prioritizing local currency trade agreements to shield its economy from dollar volatility and global uncertainties. RBI Denies Dedollarization Goals, Focuses on Securing Indian Trade Reserve Bank of India (RBI) Governor Shaktikanta Das clarified India’s stance on global currency discussions during a post-monetary policy press […]