People stand in front of a Reserve Bank of India logo at the Global Fintech Fest in Mumbai, India, 5 September, 2023. "The appointment of Mr Malhotra could set a new direction for the RBI," Shah added. The group had previously predicted the rate cut would come in April under Das' leadership. Economists at Citi, who were already predicting an interest rate cut from the RBI in February, reiterated that view. India's 10-year bond yields were down 2 basis points at 6.699% on Tuesday, signaling market expectations of a rate cut, while the rupee was hovering near record lows at 84.83 against the dollar, according to data from LSEG.

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Persons: Shaktikanta Das, Sanjay Malhotra, Malhotra, Shilan Shah, Mr Malhotra, Shah, Das Organizations: Reserve Bank of, Global, Reserve Bank of India, Ministry of Finance, Indian Institute of Technology, Princeton University, Analysts, Committee, Capital Economics, Citi Locations: Reserve Bank of India, Mumbai, India, LSEG