The move to replace Reserve Bank of India Governor Shaktikanta Das with Sanjay Malhotra appears a calculated way to address the weakness in India's economy.

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 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 appointed career civil servant Sanjay Malhotra as its new central bank governor on Monday in a surprise move that leaves markets guessing about the future direction of monetary policy.