Policy continuity, inclusion, innovation will be priority: Sanjay Malhotra

After taking charge on Wednesday, Reserve Bank of India Governor Sanjay Malhotra stated that policy continuity, inclusion and innovation will be priority under his governorship.Highlighting the legacy of the RBI, Malhotra stated that "It is a huge responsibility," recognising the commendable work carried out by the central bank.He stressed the importance of continuity in policies, saying, "stability in policy again, very, very important. "Malhotra reaffirmed his commitment to financial inclusion, noting progress made but emphasizing the need for further efforts. ""We will, of course, have to be also conscious of the risks that it may entail and so putting in place, requisite, safe gards and guard rails without killing or without stopping innovation. He added that the knowledge and expertise are not the monopoly of any one institution and consultation will remain a key pillar of our policymaking process.Malhotra concluded with a promise to uphold the trust and values of the RBI, stating that whatever decisions are made will be in public interest, ensuring the trust of the people is strengthened.Malhotra, a senior bureaucrat with extensive experience in economic and financial matters, brings a wealth of knowledge to his new role.He succeeds Shaktikanta Das, who served as the Governor of the RBI since December 2018 and was instrumental in steering the Indian economy through various challenges, including the COVID-19 pandemic.As the head of the RBI, Malhotra is expected to focus on maintaining inflation targets, boosting economic growth, and ensuring the financial sector's resilience amidst global uncertainties.