L J Ravi 
Union government names Revenue Secretary Sanjay Malhotra as RBI Governor A 1990-batch IAS officer of Rajasthan cadre, he is a computer science engineering graduate from the Indian Institute of Technology, Kanpur
Interest rate reduction expected
MUMBAI: The new governor of RBI, Sanjay Malhotra, has asserted the need to maintain continuity and stability in policy formulation. He said that in the current global and political environment, we need to be alert and agile. Sanjay Mallotra, who participated in the interaction with the media on Wednesday, said, “We should be careful about the reality but we should not stick to it. We need to be prepared to face the challenges
Financial experts who have analyzed these words have said that the repo rate is likely to drop. According to Japan’s trocarage firm ‘Nomura’, Revo’s rate cut is guaranteed at the next MPC meeting. In the meeting held in December, it was decided to keep the repo rate unchanged. The next MPC meeting will be held in February. As the MPC meeting will be held a few days after the budget presentation, important decisions can be expected.
Commerce Minister Piyush Goyal said, “Otta did staartoexdeb, dijo: considering inflation to determine rates is flawed to increase economic growth.” And the central bank will continue the dialogue with all the sectors including the central governments,” he announced. These words are said to be indicators of interest rate reduction.
A 1990-batch officer of the Indian Administrative Service of the Rajasthan cadre, Mr. Malhotra is a computer science engineering graduate from the Indian Institute of Technology, Kanpur, and has a Master’s degree in Public Policy from the Princeton University, U.S.A, and will take charge of the country’s monetary policy framework and banking regulation at Mint Street on December 11.
Mr. Malhotra will take charge of the Central bank at a challenging time with inflation having been a bugbear, veering off the official median target of 4% for about five years now, even as growth has slowed down sharply in the second quarter of this financial year. He will steer his first monetary policy review from February 5 to 7, 2025.
