A new Governor is in place at a crucial time when there is need for stabilizing the economy. Nirmala Seetharaman has done well as the Finannce Minister so far.
She is able to put the inflation in place.
But the price rise is not under control.
The BJP government appointed Revenue Secretary Sanjay Malhotra in the Union ministry of finance as the 26th governor of the Reserve Bank of India (RBI), for a three-year term beginning from Wednesday. Malhotra will replace Shaktikanta Das, the second longest serving RBI governor,after Sir Benegal Rama Rau’s seven-year plus tenure.
Malothra will succeed the present RBI governor Shaktikanta Das, who was touted to be given an extension as the central bank governor for a third term, extending his leadership until December 2026. Das would have become one of the longest-serving governors in the RBI’s history,if his extension was granted.
Das was appointed as the 25th RBI governor on December 12, 2018,after the ‘abrupt exit’ of Urjit Patel. He was granted an extension after completing three-year terms in Office as his extended tenure ends on Tuesday.
