Sanjay Malhotra has been appointed as the 26th Governor of the Reserve Bank of India (RBI) for a three-year term, beginning December 10, 2024. He replaces Shaktikanta Das, whose six-year tenure at the helm of the RBI concludes on December 10, 2024. The Appointments Committee of the Cabinet confirmed his appointment on December 9, 2024. At 56 years old, Mr. Malhotra brings with him over three decades of experience in various government sectors, including finance, taxation, power, information technology, and mines.
Mr. Malhotra is a 1990 batch IAS officer from the Rajasthan cadre and holds an engineering degree in computer science from the Indian Institute of Technology (IIT) Kanpur, along with a Master’s in Public Policy from Princeton University. His previous role as the Revenue Secretary has seen him play a pivotal part in tax policy formulation, overseeing both direct and indirect taxes. Prior to his current role, he served as the Secretary of the Department of Financial Services under the Ministry of Finance, gaining valuable experience in the financial and taxation sectors at both the state and central government levels.
As the new RBI Governor, Mr. Malhotra is expected to leverage his extensive experience to provide strong leadership to India’s central banking institution, following the tenure of Shaktikanta Das, who took charge as the RBI Governor in December 2018. Mr. Malhotra’s appointment signals a new chapter for the RBI, and he is expected to bring a fresh perspective to its functioning and policies.
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