Last Updated:
The Government has appointed Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India
Reserve Bank Of India Governor Sanjay Malhotra
The Government of India has appointed Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India (RBI), effective Wednesday. The Appointments Committee of the Cabinet cleared his name for the prestigious position, with Malhotra set to serve a three-year term.
Who is Sanjay Malhotra?
Sanjay Malhotra, a 1990-batch Indian Administrative Service (IAS) officer from the Rajasthan cadre, will take over from Shaktikanta Das, whose term concludes on Tuesday, December 10, 2024. Malhotra, an engineering graduate in computer science from the Indian Institute of Technology (IIT) Kanpur, also holds a Master’s in Public Policy from Princeton University, USA.
With over 33 years of distinguished service, Malhotra has worked across diverse sectors, including power, finance and taxation, information technology, and mines. He is currently serving as the Secretary (Revenue) in the Ministry of Finance. Before this, he held the position of Secretary in the Department of Financial Services under the Ministry of Finance.
Malhotra brings extensive expertise in finance and taxation at both the state and central government levels. In his current role, he has played a key role in shaping tax policy, particularly in direct and indirect taxes, making him well-equipped for his new responsibilities at the helm of India’s central bank.
His appointment follows the end of Shaktikanta Das’s tenure as RBI Governor.
Das, who took office on December 12, 2018, after the sudden resignation of Urjit Patel, was granted an extension after completing his initial three-year term.
His leadership played a pivotal role in stabilising the markets following Patel’s abrupt departure, especially during a tense period over the issue of surplus transfer between the RBI and the government.