RBI will remain alert and agile to meet challenges: New Governor Sanjay Malhotra

New RBI Governor Sanjay Malhotra on Wednesday said the central bank will maintain continuity and stability in policy matters, but emphasised on the need to remain “alert and agile” in the wake of the current global economic and political environment.

Earlier in the day, he took charge as the 26th Governor of the Reserve Bank, replacing Shaktikanta Das who demitted office after six years.

“As we have to be conscious of the fact that we do maintain continuity and stability, we cannot be stuck to it, and we have to be alert and agile to meet challenges,” Malhotra said in his first interaction as Governor with media.

In his brief statement, Malhotra also stressed that the central bank will continue to interact with all segments, including financial regulators, state governments and the Centre, to continue the Reserve Bank’s legacy.

“We do not have monopoly of all knowledge,” he said, while stressing on the importance of wide consultations with other stakeholders.

The former revenue secretary emphasised that RBI will extensively use technology to further promote financial inclusion.