MUMBAI: RBI has broken its silence on exchange rate movements, with governor Sanjay Malhotra saying the central bank will "ensure orderliness and stability without compromising market efficiency".Economists and forex dealers speculate that RBI's stance may have shifted with the arrival of Malhotra,

The newly-appointed governor of the RBI, Sanjay Malhotra, with a mostly new Monetary Policy Committee (MPC) to boot, has kicked off his career by making a sharp break with his predecessor Shaktikanta Das who retired in December last year after helming the central bank for six years.

In his first Monetary Policy announcement on Friday, Reserve Bank of India (RBI) Governor Sanjay Malhotra stated that the Monetary Policy Committee (MPC) had unanimously decided to reduce the policy rate by 25 basis points (bps) from 6.