A hard 'taskmaster' with 'memory of an elephant'

SANJAY MALHOTRA, A career civil servant who has mostly kept a low profile, was picked as the governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das who is leaving after a six-year stint.

- NIKUNJ OHRI & AFTAB AHMED

Princeton-educated Malhotra, 56, will helm the RBI as slowing economic growth and persistent inflation create a rift between the views of the government and the central bank on the need for lower interest rates.

"Under Das' leadership, we had forecast that cuts to the repo rate would only begin in April," said Shilan Shah of Capital Economics.

"But given the announcement, we are now forecasting the first 25-basis-point cut at Malhotra's first meeting in charge in February."