India’s government has appointed a new central bank governor, after a sharp decline in economic growth and accelerating inflation dented the outlook for the world’s most populous country.
Shaktikanta Das, the head of the Reserve Bank of India, has been replaced by revenue secretary Sanjay Malhotra, who will start a three-year tenure this week, according to a government notification released on Monday.
Some economists said the departure of the relatively hawkish Das could pave the way for interest rate cuts early next year.
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