With extensive experience in various Indian government departments, Malhotra is well-versed in finance and taxation at both state and central levels

The former revenue secretary also said he was "conscious of the fact that we do maintain continuity and stability."

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.

Sanjay Malhotra, a career civil servant who has mostly kept a low profile, was picked as India's new central bank governor replacing Shaktikanta Das after a six-year stint. The Princeton educated 56-y

The new RBI Governor takes charge at a time when the Indian economy faces significant challenges. GDP growth slowed to a seven-quarter low of 5.4 percent in the September quarter, and inflation remains above the 6 percent threshold set for the central bank by the government.

Sanjay Malhotra takes over at a challenging time, with India's economic growth slowing to 5.4% in the July-September quarter.

India appointed career civil servant Sanjay Malhotra as its new central bank governor on Monday in a surprise move that leaves markets guessing about the future direction of monetary policy. Financial markets had expected current governor Shaktikanta Das to be handed a second extension when his term ends on Tuesday.