Sanjay Malhotra, the revenue secretary, has been appointed as the new governor of the Reserve Bank of India, according to an official announcement from the Centre's cabinet committee made on Monday.
Malhotra, an IAS officer from the Rajasthan cadre of the 1990 batch, will take over from Shaktikanta Das, whose term concludes on Tuesday. He will become the 26th governor of the central bank.
Appointed as revenue secretary in October 2022, Malhotra succeeded Tarun Bajaj, who retired that same year.
He holds an engineering degree in computer science from the Indian Institute of Technology, Kanpur, as well as a Master's in Public Policy from Princeton University in the United States.
With a career spanning over 33 years, he has worked across various sectors, including power, finance and taxation, information technology, and mining, among others. Currently, he serves as the Secretary (Revenue) in the Ministry of Finance.
In his earlier role, he was the Secretary in the Department of Financial Services under the Ministry of Finance.
Sanjay Malhotra takes over from Shaktikanta Das.
Das was appointed as the 25th RBI governor on December 12, 2018, following the sudden departure of Urjit Patel.
He received an extension after completing three years in office.
While presenting the bi-monthly policy last week, Das emphasized that the RBI has operated within the flexibility permitted by the statutes and that its goal is to manage inflation effectively.
During his six-year tenure, Das has confronted numerous challenges, including the Covid-19 pandemic and conflicts in Ukraine and the Middle East.
He has been recognized as the central banker of the year for two consecutive terms at international forums for his skillful management of the world's fastest-growing major economy.
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