Sanjay Malhotra becomes new RBI governor and emphasizes need for agility and stability

Sanjay Malhotra has officially taken over as the new governor of the Reserve Bank of India, succeeding Shaktikanta Das. In his first press conference, he emphasized the need for the bank to be "alert and agile" in addressing challenges. Malhotra highlighted the importance of maintaining continuity and stability while adapting to new situations. He stated that the RBI will engage with various stakeholders, including financial regulators and government entities. His appointment comes as India faces its lowest GDP growth in seven quarters, with a growth rate of 5.4% for the July-September period. Malhotra, a seasoned bureaucrat, has a background in finance and technology.