New Delhi:The Centre has appointed Revenue Secretary Sanjay Malhotra as the next Reserve Bank of India (RBI) Governor.
An official order stated, "The Appointments Committee of Cabinet has approved the appointment of Sanjay Malhotra IAS (RJ: 1990) Secretary, Department of Revenue as Governor, Reserve Bank of India for a period of three years from 11.12.2024."
Malhotra, a 1990 Batch Rajasthan Cadre IAS Officer, will replace Shaktikanta Das, whose tenure comes to an end on Tuesday (December 10, 2024). Malhotra will be the 26th RBI Governor.
Malhotra is an Engineering Graduate in Computer Science from the Indian Institute of Technology, Kanpur and has a Master's in Public Policy from Princeton University, USA.
With demonstrated leadership and excellence in his career of over 33 years, Malhotra has worked in multifarious sectors including power, finance and taxation, information technology, mines etc. In his previous assignment, he held the post of Secretary in the Department of Financial Services under the Ministry of Finance.
He has extensive experience in finance and taxation at the State as well as the Central Government. As a part of his present assignment, he plays an instrumental role in tax policy formulation in respect of direct and indirect taxes.
During Malhotra's tenure as the revenue secretary, the finance ministry has maintained a strong momentum in goods and services tax collection. The monthly collection has risen from Rs 1.49 lakh crore in December 2022 to Rs 1.82 lakh crore in November 2024.
Before his tenure as Revenue Secretary, Malhotra held the position of Chairman and Managing Director of REC Limited, a state-owned enterprise specialising in financing power projects.
Malhotra will join the illustrious list comprising former Prime Minister Dr Manmohan Singh, Raghuram Rajan, Bimal Jalan, Urjit Patel, D Subbarao, Dr YV Reddy, Dr C Rangarajan and S Jagganathan.
Former Rajasthan Chief Minister and senior Congress leader Ashok Gehlot congratulated Malhotra for his appointment. In a post on X, Gehlot said, "Hearty congratulations to Sanjay Malhotra, a resident of Bikaner and IAS officer of Rajasthan cadre, on his appointment as Governor of the Reserve Bank of India and best wishes for a good tenure."
