Sanjay Malhotra, the newly appointed Governor of the Reserve Bank of India (RBI), officially took charge on Wednesday for a three-year term starting December 11, 2024.
Speaking at a press conference after assuming office, Malhotra expressed gratitude and emphasized the weight of the role.
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“It’s an honour to head this prestigious institution, but more than that, it’s a huge responsibility. All decisions will be taken with public interest in mind,” he said.
He highlighted the RBI’s critical role in the Indian economy and outlined his focus on policy continuity and stability.
“I will strive to ensure policy continuity and stability, gain public trust, and further formal financial inclusion,” Malhotra added.
Reiterating his commitment to upholding the RBI’s legacy, Malhotra said, “I will continue to uphold the legacy of this 90-year-old institution and work towards the vision of Viksit Bharat (Developed India).”
The new Governor also acknowledged the challenges posed by a dynamic global financial environment, emphasizing the need for vigilance and adaptability.
“We need to remain alert and agile to address these challenges and ensure that the RBI remains responsive to both domestic and international developments,” he noted.
Malhotra, a 1990-batch IAS officer of the Rajasthan cadre, previously served as the Revenue Secretary under the Government of India. His appointment as the RBI Governor was announced earlier this week.
The new leadership comes at a time when the RBI plays a crucial role in steering India’s financial stability amid global uncertainties.
