Sanjay Malhotra, a career civil servant, has become India’s new central bank governor at a time when the country’s economic growth is slowing and inflation is surging.

The new RBI Governor takes charge at a time when the Indian economy faces significant challenges. GDP growth slowed to a seven-quarter low of 5.4 percent in the September quarter, and inflation remains above the 6 percent threshold set for the central bank by the government.

The new governor of the Reserve Bank of India brings a pro-growth sensibility to the position that raises the likelihood of lower benchmark policy rates early next year.

India has appointed a new central bank governor in a surprising move that some experts say strengthens outlook for rate cuts early next year.

MUMBAI: With the finance ministry insider Sanjay Malhotra helming the Reserve Bank from Wednesday, analysts are expecting the easing cycle to begin faster, especially given the macro-challenges that are sure to hit the country after Donald Trump takes charge of the White House next month,