Sanjay Malhotra, a career civil servant, has become India’s new central bank governor at a time when the country’s economic growth is slowing and inflation is surging.

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.

As Shaktikanta Das finishes up his tenure as India’s central bank governor, handing over the reins to a career bureaucrat, many have praised his performance as a relative outsider who leaned on diplomacy to propel the world’s fastest-growing major economy to new heights.

RBI Governor Shaktikanta highlights the potential of CBDC in shaping India's economic future, the progress of the digital rupee pilot project