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It is a huge responsibility, says new RBI Governor Sanjay Malhotra after assuming charge.
Sanjay Malhotra officially took charge as the 26th Governor of the RBI on Wednesday
In his first press conference after assuming office, Sanjay Malhotra, the newly appointed Governor of the Reserve Bank of India (RBI), assured that all decisions would be made with the public interest at the forefront.
The new RBI Governor added the central bank will maintain continuity and stability in policy matters, but emphasised the need to remain “alert and agile” in the wake of the current global economic and political environment.
Earlier in the day, he took charge as the 26th Governor of the Reserve Bank, replacing Shaktikanta Das who demitted office after six years.
“As we have to be conscious of the fact that we do maintain continuity and stability, we cannot be stuck to it, and we have to be alert and agile to meet challenges,” Malhotra said in his first interaction as Governor with media.
Speaking about his new role, Sanjay Malhotra described it as a “huge responsibility,” acknowledging the weight of the position in steering the nation’s monetary policy and financial stability.
In his brief statement, Malhotra also stressed that the central bank will continue to interact with all segments, including financial regulators, state governments and the Centre, to continue the Reserve Bank’s legacy.
“We do not have monopoly of all knowledge,” he said while stressing on the importance of wide consultations with other stakeholders.
The former revenue secretary emphasised that RBI will extensively use technology to further promote financial inclusion.
“I will uphold the Reserve Bank’s legacy and take it forward,” Malhotra said, emphasising his commitment to maintaining the institution’s longstanding values while navigating India’s evolving economic landscape.
His leadership comes at a time when the RBI faces critical challenges in balancing inflation control, economic growth, and financial market stability.
