RBI's new governor Malhotra holds first press conference after taking charge, says will be ‘alert and agile’...
Reserve Bank of India governor during his first press conference on Wednesday emphasized the need to remain alert and agile in a constantly changing world marked by geopolitical tensions.
Malhotra assumed office as the 26th Governor of the Reserve Bank of India earlier today, succeeding his role as the former Revenue Secretary. He will serve a three-year term as the head of India's central bank.
Malhotra succeeds Shaktikanta Das who completed his term as the RBI chief on Tuesday.
The Princeton-educated 56-year-old Malhotra will helm the central bank as slowing economic growth and persistent inflation create a rift between the views of the central government and the RBI on the need for lower interest rates.
ALSO READ: Sanjay Malhotra takes charge as 26th RBI governor
Bond yields fell and the rupee weakened following Malhotra's appointment as traders ramped up bets for an interest rate cut when the central bank reviews policy in February.
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