Sanjay Malhotra, the revenue secretary, has been appointed as the 26th Governor of the Reserve Bank of India. Malhotra, a 1990 Batch Rajasthan Cadre IAS Officer, would succeed Shaktikanta Das, whose term ends on December 10, 2024. Malhotra will become the 26th governor of the RBI. The cabinet’s appointments committee accepted Malhotra’s appointment for a three-year term beginning on Wednesday.
He holds an engineering degree in computer science from the Indian Institute of Technology, Kanpur, as well as a master’s degree in public policy from Princeton University in the United States. His long 33-year career has spanned a variety of businesses, including power, banking, taxes, information technology, and mining. He is currently the revenue secretary at the finance ministry, having previously served as secretary in the same ministry’s department of financial services. His extensive experience in finance and taxation spans both the state and federal governments.
Sanjay Malhotra has over 33 years of experience in a variety of industries, including power, finance and taxation, information technology, and mining. He currently serves as Secretary (Revenue) at the Ministry of Finance. According to the Finance Ministry website, he previously worked as a Secretary in the Department of Financial Services of India’s Ministry of Finance.
He has substantial experience in finance and taxation at both the state and national levels. As part of his current responsibilities, he contributes significantly to the development of direct and indirect tax policies.
Shaktikanta Das was first named RBI Governor in December 2018, after Urjit Patel, the then-central bank leader, resigned before his term was set to finish. Das was the RBI’s second longest-serving governor, following Benegal Rama Rau’s seven-year stint.
Das, a former IAS officer with a long stint in the Finance Ministry, became governor after retiring from the service. His tenure as RBI Governor also resulted in a smoother working relationship between the central bank and the Finance Ministry, following the friction that marked his predecessor’s tenure.
Das worked as a secretary in the Finance Ministry’s Departments of Revenue and Economic Affairs, where he was directly responsible for eight Union Budgets. He also served on the 15th Finance Commission and as India’s Sherpa at the G20. Das has also served as India’s alternate governor for the World Bank, Asian Development Bank, New Development Bank, and Asian Infrastructure Investment.