Revenue Secretary Sanjay Malhotra Appointed As New RBI Governor Succeeding Shaktikanta Das

New Delhi: Revenue Secretary Sanjay Malhotra has been appointed as the 26th Governor of the Reserve Bank of India ( RBI ) by the central government. IAS Sanjay Malhotra will succeed the outgoing Governor Shaktikanta Das, whose term is set to end this month. At present, Malhotra is serving his term as the Revenue Secretary in the Ministry of Finance. He will serve a term of three years from the day of his appointment, which is on December 11.

Malhotra is a 1990-batch Indian Administrative Service (IAS) officer from the Rajasthan cadre. He is an IIT-Kanpur graduate in Computer Science and holds a Master's in Public Policy from Princeton University.

As a bureaucrat, the present Revenue Secretary has over 33 years of experience in various sectors including finance, power, IT, taxation and mines, having served in senior roles at both the central and state levels. Before his appointment as Revenue Secretary in December 2022, he was Secretary of the Department of Financial Services, where he played a crucial role in steering financial reforms and strengthening the banking sector.

He has also been instrumental in driving growth in tax collections and has served as the ex-officio Secretary to the GST Council.

Known for his strategic thinking, Malhotra has previously held the position of Chairman and Managing Director of the state-run REC.

He takes over the reins from Shaktikanta Das, who became the RBI Governor in December 2018. Malhotra’s appointment comes at a pivotal time for the RBI, with the economy navigating significant challenges and reforms.