SHAKTIKANTA DAS bids farewell as RBI Governor, highlights inflation-growth balance as a key challenge

SANJAY MALHOTRA'S TENURE AS NEW RBI GOVERNOR BEGINS TODAY

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MUMBAI: Outgoing Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday that restoring the balance between inflation and growth will be the central bank's most critical task in the coming years.

Speaking at a press conference on his final day in office, Das reflected on his six-year tenure, which was marked by unprecedented global and domestic challenges, and shared his expectations for his successor, Sanjay Malhotra.

“Restoring the growth-inflation balance is a complex task but a necessary one,” Das stated. He expressed confidence in the Indian economy, describing it as "resilient and robust, with the capacity to deal with global spillovers very effectively." However, he acknowledged that global uncertainties and domestic challenges require careful navigation to ensure sustained growth while keeping inflation in check.

Das, on his final day as RBI Governor, shared a series of posts on X expressing gratitude. He thanked Prime Minister Narendra Modi for the opportunity to serve and for his guidance, Finance Minister Nirmala Sitharaman for her support, and various stakeholders for their inputs and suggestions.

“A BIG thank you to the entire Team RBI. Together, we navigated an exceptionally difficult period of global shocks,” he wrote, wishing the central bank continued success.

Revenue Secretary Sanjay Malhotra is set to take over as the new RBI Governor on Wednesday. Das expressed optimism about his successor's ability to steer the institution. "Sanjay Malhotra has vast experience, and I am confident he will carry forward the transformational initiatives we have undertaken," he said.