Sanjay Malhotra takes charge as 26th governor of Reserve Bank of India

Sanjay Malhotra on Wednesday assumed charge of the governor of the Reserve Bank of India. The 26th governor of the central bank received a warm welcome by senior RBI staff members upon his arrival at the headquarters in the morning.


The former revenue secretary signed the necessary documents to lead the institution with its diverse responsibilities. The ceremony was attended by deputy governors Swaminathan J, M Rajeshwar Rao, and T Rabi Sankar.

The Rajasthan cadre IAS officer takes control of the RBI during a crucial period, and faces disrupted balance between growth and inflation.

The September quarter saw GDP growth fell to 5.4 per cent, its lowest in seven quarters, while October's headline inflation exceeded the government's 6 per cent target for the central bank.

Financial experts anticipate interest rate reductions at the upcoming February policy review, suggesting that Malhotra's appointment strengthens this likelihood.

The Reserve Bank, during former governor Shaktikanta Das's tenure, maintained unchanged key rates across 11 consecutive meetings spanning nearly two years, focusing on inflation control. The bank attributed sluggish growth to elevated inflation levels.

Malhotra will be addresssing the media later today, potentially outlining his primary areas of focus.