Sanjay Malhotra will be the new governor of RBI, will replace Shaktikanta Das, know the whole thing

The government has appointed Revenue Secretary Sanjay Malhotra as the next Reserve Bank Governor. According to a news release by PTI quoting sources, Malhotra, a 1990 batch Rajasthan cadre IAS officer, will replace Shaktikanta Das, whose term ends on Tuesday (December 10, 2024). Malhotra will be the 26th Governor of RBI. The Appointments Committee of the Cabinet has appointed Revenue Secretary Sanjay Malhotra as the next Governor of the Reserve Bank of India for a term of three years from December 11, 2024. Sanjay Malhotra’s appointment comes at a crucial time for the RBI when the economy is undergoing significant challenges and reforms.

Know Sanjay Malhotra

Sanjay Malhotra is a 191990-batch Indian Administrative Service officer of the Rajasthan cadre. He is an Engineering Graduate in Computer Science from IIT, Kanpur, and a Post Graduate in Public Policy from Princeton University, USA. Exhibiting leadership and excellence in his career spanning over 33 years so far, Sanjay Malhotra has worked in diverse sectors including Power, Finance and Taxation, Information Technology, Mine, etc.

In his previous assignment, he held the post of Secretary in the Department of Financial Services, Ministry of Finance, Government of India. Malhotra has extensive experience in finance and taxation in state and central governments.

Shaktikanta Das played many roles

Current Governor Shaktikanta Das has served as Secretary in the Department of Revenue and Department of Economic Affairs of the Finance Ministry. Das worked on eight Union Budgets. He was also a member of the 15th Finance Commission and Sherpa for India in the G20. Das also played the rrole ofIndia’s alternate governor in the World Bank, Asian Development Bank, New Development Bank, and Asian Infrastructure Investment Bank. In the last meeting of the Monetary Policy Committee (MPC), the Reserve Bank kept the repo rate unchanged at 6.5 percent for the 11th consecutive time. Presenting the bi-monthly policy, Das said that RBI’s effort is to keep inflation under control.