Revenue Secretary Sanjay Malhotra Takes Over as the New RBI Governor

RBI Governor: The government has appointed Sanjay Malhotra, the current Revenue Secretary, as the 26th Governor of the Reserve Bank of India. He will be succeeding Shaktikanta Das who has served as the governor of the central bank for nearly six years.

"The appointment committee of the cabinet has approved the appointment of Shri Sanjay Malhotra, IAS (1990), Secretary, Department of Revenue as Governor, Reserve Bank of India for a period of three years from 11.12.2024," the official government release read.

Shaktikanta Das, who served as the 25th governor of RBI, is the second-longest-serving central bank governor, only after Benegal Rama Rau.

Das was initially appointed in December 2018, following the resignation of the then RBI governor Urjit Patel. In December 2021, a three-year reappointment was announced for Das.

Who is Sanjay Malhotra?

Sanjay Malhotra, an IAS officer from the Rajasthan cadre, has an Engineering degree in Computer Science from IIT Kanpur. He also has a Master's degree in Public Policy from Princeton University, USA.

In his career of over 33 years, he has worked in multifarious sectors, including power, finance and taxation, information technology, and mines, among others.

Presently, 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.

He has extensive experience in finance and taxation at the state as well as the central government levels. As a part of his present assignment, he plays an instrumental role in tax policy formulation in respect of direct and indirect taxes.

(With inputs from PTI)