Revenue secretary Sanjay Malhotra appointed new RBI governor | India Business News – Times of India

NEW DELHI: The revenue secretary Sanjay Malhotra has been appointed the 26th Governor of the Reserve Bank of India. A 1990 Batch Rajasthan Cadre IAS Officer, Malhotra will succeed Shaktikanta Das, who concludes his term on December 10, 2024. In his new role, Malhotra will serve as the 26th governor of the RBI.
The appointments committee of the cabinet approved Malhotra’s appointment for a three-year term, commencing Wednesday.
New RBI governor: Who is Sanjay Malhotra? Meet the revenue secretary who will succeed Shaktikanta Das as 26th RBI governor
Malhotra holds a computer science engineering degree from IIT Kanpur and completed his Master’s in Public Policy at Princeton University, USA.
His extensive 33-year career spans various sectors, including power, finance, taxation, information technology, and mining industries.
Currently serving as revenue secretary in the finance ministry, his previous role was secretary in the department of financial services under the same ministry.
His comprehensive background includes both state and central government experience in finance and taxation.
Das assumed the position of 25th RBI governor on December 12, 2018, following Urjit Patel’s abrupt exit. After completing his initial three-year term, he received an extension, which concludes on Tuesday.
Upon taking office at Mint Street, Das successfully stabilised the market, which had been unsettled by Patel’s sudden resignation during disagreements between the RBI and government regarding surplus transfer matters.