Revenue secretary Sanjay Malhotra appointed new RBI governor
Revenue Secretary Sanjay Malhotra has been appointed the new governor of the Reserve Bank of India, according to an official notification from the Centre’s cabinet committee on Monday.
Malhotra, a 1990-batch Rajasthan cadre IAS Officer, will replace Shaktikanta Das, whose tenure ends on Tuesday. He will be the 26th governor of the central bank.
Malhotra was appointed revenue secretary in October 2022, succeeding Tarun Bajaj, who retired that year.
He is an engineering graduate in computer science from the Indian Institute of Technology, Kanpur, and has a Master’s in Public Policy from Princeton University in the US.
His career of over 33 years, he has worked in various sectors, including power, finance and taxation, information technology, and mines.
He is the Secretary (Revenue) in the Ministry of Finance.
In his previous assignment, he held the post of Secretary in the Department of Financial Services under the Ministry of Finance.
Sanjay Malhotra succeeds Shaktikanta Das
Shaktikanta Das was appointed as the 25th governor of the RBI on December 12, 2018, after Urjit Patel’s abrupt exit.
He was granted an extension after completing three-year terms in office.
Das, while unveiling the bimonthly policy last week, made it clear that the RBI has been acting according to the flexibility offered by the statutes to the central bank and that its effort is to keep the inflation horse on a tight leash.
Over the past six years, Das has faced several challenges, including COVID-19 and wars in Ukraine and the Middle East.
He has been awarded the Central Banker of the Year for two successive terms at global forums for his deft navigation of the fastest-growing major economy in the world.
