Revenue Secretary Sanjay Malhotra has been appointed as the new Governor of Reserve Bank of India (RBI), superseding Shaktikanta Das.
According to a notification issued by the DPoT on Monday, Sanjay Malhotra will take over from current RBI Governor Shaktikanta Das on December 11.
He was serving as the Revenue Secretary and is a 1990-batch IAS officer of the Rajasthan cadre.
Over his 33-year career, Malhotra has demonstrated leadership across various sectors, including power, finance, taxation, information technology, and mining. His notable roles include serving as Secretary in the Department of Financial Services and as Chairman and Managing Director of REC Limited.
His notable roles include serving as Secretary in the Department of Financial Services and as Chairman and Managing Director of REC Limited.
Before his appointment as Revenue Secretary in December 2022, he was Secretary in the Department of Financial Services. There he played a crucial role in steering financial reforms and strengthening the banking sector.
Malhotra has also been instrumental in driving growth in tax collections and has served as the ex-officio Secretary to the GST Council.
Sanjay Malhotra is an IIT-Kanpur alumnus and also holds a masters degree in public policy from Princeton University, US
As Revenue Secretary in the Ministry of Finance, Malhotra played a pivotal role in formulating tax policies for both direct and indirect taxes. His extensive experience in finance and taxation at both state and central government levels positions him well to lead India’s central bank.
Shaktikanta Das served for six years as the RBI Governor. The 25th Governor of RBI is the second-longest-serving RBI governor after Benegal Rama Rau, who held the position for seven and a half years in the 1950s.