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.

Indian bonds are poised to gain as analysts bet on an interest-rate cut after the government named career bureaucrat Sanjay Malhotra as the new Reserve Bank of India governor.

The country's inflation rate reading comes after India had missed growth expectations for its fiscal second quarter

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.

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.