New Delhi, 10 December
Finance Secretary Sanjay Malhotra today said that after assuming charge as the Governor of the Reserve Bank of India (RBI) on December 11, he will try to understand all perspectives and do the best for the economy.
Responding to questions from reporters outside the finance ministry, Malhotra said, “Whoever (holds the post) has to understand the sector, all perspectives and do what is best for the economy.” Malhotra (56) is currently the revenue secretary in the finance ministry. The government last evening nominated him to be appointed as the Governor of the Central Bank. He will replace the outgoing Governor Shaktikanta Das. A 1990 batch IAS officer from Rajasthan, Malhotra has over three decades of experience in public policy with expertise in areas such as power, finance and taxation. He is taking over the helm of the central bank at a time when the economy is facing the twin challenges of sluggish growth and high inflation. Malhotra’s image is one of working together with everyone. They believe that the central bank alone cannot control the prices and for this the government’s help is also needed. -News-Patiala
Fiscal-monetary coordination at highest level in last six years: Shaktikanta
RBI Governor Shaktikanta Das today thanked Prime Minister Narendra Modi for giving him the opportunity to lead the central bank and said that fiscal-monetary coordination remained at its highest level in the last six years. Shaktikanta Das thanked the finance minister, various parties and his colleagues at the central bank in a post on the last day of his six-year term as RBI governor. He said, ‘Thank you to Prime Minister Narendra Modi for giving me the opportunity to serve the country as the Governor of RBI and for giving me guidance and encouragement. Always benefited from his ideas and understanding.’ Thanking Finance Minister Nirmala Sitharaman, Das said that the fiscal-monetary coordination remained at its best and it helped in overcoming many challenges during the last six years.