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.

On his last day as the governor of the Reserve Bank of India (RBI), Shaktikanta Das shared his vision to transform India’s economy with a home-grown central bank digital currency (CBDC), the digital rupee.

RBI Governor Shaktikanta highlights the potential of CBDC in shaping India's economic future, the progress of the digital rupee pilot project

As Shaktikanta Das finishes up his tenure as India’s central bank governor, handing over the reins to a career bureaucrat, many have praised his performance as a relative outsider who leaned on diplomacy to propel the world’s fastest-growing major economy to new heights.

The Reserve Bank of India has held interest rate steady since February last year, while a sharper-than-anticipated slowdown in India’s growth has made RBI’s task tougher.