Sanjay Malhotra, the current Revenue Secretary at the Ministry of Finance, has been appointed as the new Governor of the Reserve Bank of India (RBI). His tenure will begin on December 11, 2024, and will last for three years, as confirmed by the Department of Personnel and Training on Monday.
A 1990-batch Indian Administrative Service (IAS) officer from the Rajasthan cadre, Malhotra is an Engineering graduate in Computer Science from IIT Kanpur and holds a Master’s degree in Public Policy from Princeton University. Over his 33-year career, he has held various key positions across sectors such as finance, taxation, power, information technology, and mines. Currently, as the Revenue Secretary, he plays a pivotal role in formulating tax policies, including those for direct and indirect taxes.
Before this role, Malhotra served as Secretary in the Department of Financial Services at the Ministry of Finance.
He succeeds Shaktikanta Das, who has completed a successful six-year term as the RBI Governor. Das steered the central bank during critical times, including the Covid-19 pandemic, and is widely recognized for his leadership in the finance sector. His term will conclude on December 10, 2024.
Shaktikanta Das, a seasoned bureaucrat, previously served as the Secretary of the Department of Revenue and the Department of Economic Affairs under the Ministry of Finance. He assumed office as the 25th Governor of the RBI on December 12, 2018, with his term extended in 2021.
(ANI)
