The centre cabinet committee notified on Monday that Sanjay Malhotra had been appointed as the new governor of the RBI (Reserve Bank of India). Before this, he worked as a revenue secretary for the Ministry of Finance; Mr Malhotra will become the 26th governor of the RBI.
Sanjay Malhotra, a 1990-batch Rajasthan cadre IAS Officer, graduated from IIT (Indian Institute of Technology) Kanpur with a computer science degree. He also earned a Master’s degree in Public Policy from Princeton University in the United States.
Throughout his 33-year career, Sanjay Malhotra has worked in multiple sectors, such as finance and taxation, power, mines, information technology, etc. On its site, the Department of Revenue shared that Sanjay Malhotra is highly experienced in taxation and finance. It also mentioned that Sanjay Malhotra played a key role in formulating tax policy for direct and indirect taxes.
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Before Sanjay Malhotra, Shaktikanta Das was the RBI governor. His tenure ends on Tuesday, December 10, 2024. Over the past six years, Das has faced a series of challenges, including wars in Ukraine and the Middle East and COVID-19. He has also received the Central Banker of the Year award for two successive terms.
After Shaktikanta Das, Malhotra’s leadership will play a major role as the RBI grapples with issues such as managing inflation and slowing economic growth.
