Newly appointed RBI Governor Sanjay Malhotra, who took charge on Wednesday as the 26th Governor, emphasized the importance of maintaining policy continuity and stability while staying adaptable in response to global economic and political challenges. He succeeds Shaktikanta Das, who completed a six-year tenure. In his first media interaction, Malhotra underscored the need for the central bank to remain “alert and agile” to effectively address emerging challenges.
Malhotra highlighted the importance of collaboration and consultation, stating that the Reserve Bank of India will actively engage with financial regulators, state governments, and the central government to sustain the institution’s legacy. He acknowledged that the RBI does not have a monopoly on knowledge, emphasizing that wide consultations with stakeholders are essential for informed decision-making and effective policy implementation.
Additionally, Malhotra stressed the role of technology in advancing financial inclusion. He expressed the RBI’s commitment to leveraging technological advancements to ensure more people benefit from financial services. His remarks reflect a balanced approach of maintaining stability while adapting to new challenges and innovations in the financial sector.
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