Malhotra, 56, will take over as governor today at a time when there is growing clamour for an interest rate cut to support slowing economic growth
Here's how leading brokerages have interpreted the development, and their expectations from Sanjay Malhotra as regards key rates and maintaining a balance between growth and inflation
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 three-year term comes to an end on December 10. Malhotra, who has more than three decades of experience in public policy with expertise in areas like power, finance and taxation, takes guard at the central bank at a time when the economy is faced with the dual challenge of slowing growth rate and high inflation rate. While Das kept benchmark interest rates unchanged for almost two years in a bid to control inflation, the incoming Governor is said to be a team player who believes prices cannot be managed by the central bank alone and the task needs government help as well. He takes over as the 26th ...
With a new governor at the helm of the Reserve Bank of India (RBI) and a deputy governor retiring next month, the RBI's monetary policy committee (MPC) will have a new look
KV Kamath commends outgoing RBI Governor Shaktikanta Das for his leadership and expresses confidence in Sanjay Malhotra's capabilities as the new RBI Governor
Shaktikanta Das, set to demit office today, expressed gratitude to PM Modi and FM Sitharaman for their support during his tenure as RBI governor
Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank. "Immensely grateful to the Hon'ble PM @narendramodi for giving me this opportunity to serve the country as Governor RBI and for his guidance and encouragement. Benefited a lot from his ideas and thoughts," he said in a post on X from his personal handle. Expressing gratitude to Finance Minister Nirmala Sitharaman for her constant support and backing, he said, fiscal-monetary coordination was at its best and helped to deal with multiple challenges during the last six years. He also thanked all the stakeholders in the financial sector and in the economy; expe
Malhotra takes over the reins of the RBI at a time when growth in the domestic economy has fallen to a seven-quarter low
As revenue secretary, Malhotra took key decisions, including rationalisation of capital gains tax
It's been an eventful six year for Shaktikanta Das as Mint Road's helmsman. Here's a look at some of the significant moves during his watch
RBI became stronger, surer under Shaktikanta Das
Sanjay Malhotra, a 1990 batch IAS officer from the Rajasthan cadre, will take over from Shaktikanta Das, whose term comes to an end on December 10
The meeting took place at the finance minister's North Block office. Sources said that the meeting lasted around 20 minutes and was considered customary following the MPC meeting
Its better we stick to monetary policy, says RBI governor Shaktikanta Das
Markets Highlights: Broader markets outperformed the benchmarks indices on Friday after the RBI left key rates unchanged and announced a 50 bps cut in CRR, while lowering its GDP forecast
RBI Monetary Policy Meeting Dec 2024 Updates: Catch all the updates here
RBI governor Shaktikanta Das said that the CRR reduction will release Rs 1.16 trillion into the banking system, providing additional liquidity and enable banks to extend more loans
The RBI Governor Shaktikanta Das in his MPC announcement said that factors like frequent weather disruptions, geopolitical tensions, and financial market volatility pose significant risks to inflation