Sanjay Malhotra Appointed as New RBI Governor, Succeeding Shaktikanta Das
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New Delhi, Dec 9 (NationPress) The Central government has announced the appointment of Sanjay Malhotra, currently serving as the Secretary (Revenue) within the Ministry of Finance, as the forthcoming Governor of the Reserve Bank of India. He will take over from Shaktikanta Das, who has held the position for six years, making him the second-longest tenured RBI Governor to date.
Sanjay Malhotra, an officer from the 1990 batch of the Indian Administrative Service (IAS) belonging to the Rajasthan cadre, holds a degree in Computer Science from the Indian Institute of Technology, Kanpur and has earned a Master's degree in Public Policy from Princeton University, USA.
With a proven track record of over 33 years, Sanjay Malhotra has made significant contributions across diverse sectors such as power, finance, taxation, information technology, and mining. He is currently the Secretary (Revenue) in the Ministry of Finance. Previously, he served as Secretary in the Department of Financial Services under the Ministry of Finance, Government of India, as indicated on the Finance Ministry's official website.
His extensive background in finance and taxation at both the State and Central Government levels has equipped him for his role in tax policy development concerning both direct and indirect taxes.
Shaktikanta Das was initially appointed as the RBI Governor in December 2018 following the resignation of his predecessor, Urjit Patel, prior to the completion of his term. Das has now become the second longest-serving RBI Governor, following Benegal Rama Rau, who served for over seven years.
A former IAS officer, Das transitioned into the governor role after retiring from civil service. His tenure has notably improved the working relationship between the RBI and the Finance Ministry, contrasting the friction that characterized his predecessor's time in office.
Das has previously held the position of secretary in both the Department of Revenue and the Department of Economic Affairs within the Finance Ministry. He played a direct role in formulating eight Union Budgets and was a member of the 15th Finance Commission as well as a Sherpa for India at the G20.
Additionally, Das has served as India's alternative governor in multiple international financial institutions, including the World Bank, Asian Development Bank, New Development Bank, and Asian Infrastructure Investment Bank.
