Sanjay Malhotra as New RBI Governor

The Government of India has taken a significant decision regarding the Reserve Bank of India (RBI), appointing 1990 IAS batch officer Sanjay Malhotra as the 26th Governor of the central bank. Malhotra, who is currently serving as the Secretary (Revenue) in the Ministry of Finance, will assume the new role on Wednesday.

Key Details of Sanjay Malhotra’s Appointment:

• Malhotra will serve a three-year term as RBI Governor.
• His appointment has received approval from the Cabinet.
• He succeeds Shaktikanta Das, whose term concludes tomorrow.

Professional Background:

Sanjay Malhotra belongs to the Rajasthan cadre and has over 33 years of experience in leadership roles across various sectors, including power, finance, taxation, information technology, and mining.

Educational Credentials:

• Graduation: Engineering in Computer Science from IIT Kanpur.
• Post-graduation: Master’s in Public Policy from Princeton University, USA.

Key Roles Held:

• Secretary of the Department of Revenue, Ministry of Finance.
• Ex-Officio Secretary for the GST Council, where he oversaw the GST framework.
• Chairman and Managing Director of REC Limited, achieving significant growth during his tenure.

Contributions to Financial Policy:

During his term as Revenue Secretary since December 2022, Malhotra played a pivotal role in designing tax policies related to direct and indirect taxes. His leadership was instrumental in enhancing India’s tax collections and maintaining the integrity of the national tax system.

With his vast expertise in financial oversight and policy-making, Malhotra is expected to lead the Reserve Bank of India through a critical phase, addressing economic challenges and fostering growth.