Sanjay Malhotra Takes Charge as RBI Governor for Three Years, Aims to Boost Financial Inclusion

Dec 11, 2024, 08:21 AM

Sanjay Malhotra has officially taken charge as the 26th Governor of the Reserve Bank of India (RBI) for a three-year term starting December 11, 2024, succeeding Shaktikanta Das, who served for six years. Malhotra, previously the Revenue Secretary, has emphasized the importance of understanding the economic landscape and making decisions in the best interest of the economy. He has pledged to uphold the RBI's legacy and ensure policy continuity while maintaining agility in response to global economic challenges. His appointment comes at a time when India faces issues like slowing growth, elevated inflation, and the need for financial inclusion. Malhotra has highlighted the necessity for the RBI to collaborate with stakeholders and financial regulators to further financial inclusion, using technology to make it more accessible, and has expressed his commitment to public interest in all decisions.