New Governor for Reserve Bank; who is Sanjay Malhotra?

NEW DELHI: Revenue Secretary Sanjay Malhotra has been appointed as the new Governor of the Reserve Bank of India (RBI). He will take charge on Wednesday. The appointment is for three years.

The tenure of current Reserve Bank Governor Shaktikanta Das ends on Tuesday. He took over as the 25th Governor of RBI on 12 December 2018. Shaktikanta Das was appointed after the then RBI Governor Urjit Patel resigned due to differences of opinion with the Central government.

Sanjay Malhotra is an Indian Administrative Service 1990 batch officer from Rajasthan cadre. He holds an Engineering degree in Computer Science from IIT Kanpur and a Masters in Public Policy from Princeton University, US.

In a career spanning over thirty-three years, he has worked in various sectors including energy, finance, taxation, information technology and mining. Before being appointed as Revenue Secretary, he was Secretary in the Department of Financial Services. He has been working as the Revenue Secretary in the Ministry of Finance since 2022 and has now been appointed to head the Reserve Bank.

He also held the position of Chairman and Managing Director of REC Limited under the Central Government. The growth achieved by the organization during that time was remarkable.