Revenue Secretary Sanjay Malhotra Appointed as New RBI Governor

Sanjay Malhotra, currently the Revenue Secretary of India, has been appointed as the new Governor of the Reserve Bank of India (RBI) for a term of three years. Malhotra, a 1990-batch Indian Administrative Service (IAS) officer from Rajasthan, is set to take over the helm of India’s central banking institution, succeeding Shaktikanta Das, whose tenure is concluding.

A Computer Science graduate from IIT Kanpur, Malhotra also holds a Master’s degree in Public Policy from Princeton University. With more than 33 years of distinguished service, he has amassed vast experience across a range of sectors, including finance, taxation, power, and information technology.

Before being appointed as Revenue Secretary, Malhotra served as Secretary in the Department of Financial Services, where he played a key role in shaping India’s tax policies, both for direct and indirect taxes. His work has been instrumental in the country’s finance and tax reforms, both at the state and central government levels.

Malhotra’s appointment comes at a crucial time as he takes over from Shaktikanta Das, who has led the RBI through challenging periods, including the aftermath of the sudden resignation of his predecessor, Urjit Patel. Das had steered the RBI through turbulent times, calming markets after the abrupt changes in leadership.

As the new RBI Governor, Malhotra’s extensive expertise in finance and public policy is expected to guide India’s central bank through its ongoing economic challenges and ensure continued stability for the nation’s financial system.