Sanjay Malhotra's Appointment Marks a New Era for RBI

Sanjay Malhotra, an experienced IAS officer, has been appointed as the new Governor of the Reserve Bank of India, effective December 11, 2024. Malhotra, currently the revenue secretary, brings over 33 years of experience in various sectors to the role, succeeding incumbent Governor Shaktikanta Das.

In an official announcement made on Monday, Sanjay Malhotra, a seasoned Indian Administrative Service officer, has been appointed as the new Governor of the Reserve Bank of India, effective from December 11, 2024. With his impressive credentials and vast experience, Malhotra is set to take over the reins for a three-year term.

Born from the 1990 IAS Batch of the Rajasthan Cadre, Sanjay Malhotra boasts an Engineering Graduate degree from the prestigious IIT Kanpur, as well as a Master's in Public Policy from Princeton University. Having served in critical roles in the Ministry of Finance, he brings substantial expertise in finance, taxation, and technology to the central banking role.

Currently serving as the Secretary (Revenue) in the Ministry of Finance, Malhotra has been pivotal in tax policy formulation, holding significant experience both at state and central levels. This strategic appointment follows Shaktikanta Das's completion of a successful six-year tenure as RBI Governor, noted for steering the central bank through the COVID-19 crisis.

(With inputs from agencies.)