India's new central bank governor Sanjay Malhotra faces significant challenges with rising inflation and slowing economic growth, creating uncertainty in future monetary policy direction.
Madhavi Arora, chief economist at Emkay Global, stated that "Not only are we dealing with a sharp growth-inflation trade-off and a changing global environment, but also a new set of monetary policymakers at the helm..."
The RBI's monetary policy committee now encounters difficulties with India’s economic growth being at its slowest in seven quarters, and inflation exceeding the six percent tolerance band.
Sanjay Malhotra's appointment signals a shift in leadership for India's Monetary Policy Committee, coupled with the potential change of the deputy governor amid existing economic pressures.
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