Revenue Secy Sanjay Malhotra appointed 26th RBI Governor

Shaktikanta Das to demit office today

NEW DELHI: The Central government on Monday announced the appointment of Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India (RBI).

The Appointments Committee of the Cabinet approved Malhotra's name, assigning him a three-year term starting December 11, 2024. He succeeds Shaktikanta Das, whose tenure concludes on December 10.

Malhotra, a 56-year-old 1990-batch Indian Administrative Service (IAS) officer of the Rajasthan cadre, is an engineering graduate in computer science from IIT Kanpur and holds a Master's degree in Public Policy from Princeton University. With over three decades of experience in public policy and governance, Malhotra has served in diverse roles across sectors including power, taxation, finance, information technology, and mining.

Currently serving as the Revenue Secretary in the Ministry of Finance, Malhotra has been instrumental in shaping tax policies, including the implementation of India's new income tax regime. Before this, he served as Secretary in the Department of Financial Services, where he contributed to critical financial sector reforms. He also chaired the Rural Electrification Corporation (REC) and served on the RBI board as a representative of the Financial Services Department.