Who is Sanjay Malhotra appointed as new RBI Governor for three-year term

The government has announced the appointment of Sanjay Malhotra as the new Governor of the Reserve Bank of India (RBI). A seasoned IAS officer from the 1990 Rajasthan cadre, Mr. Malhotra will assume office on Wednesday for a three-year tenure, succeeding Shaktikanta Das, whose term concludes on Tuesday.

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Malhotra brings over three decades of administrative experience, having served in sectors including finance, taxation, power, IT, and mining. Prior to his current role, he was the Revenue Secretary and has also held the position of Secretary in the Department of Financial Services.

An accomplished academic, Malhotra holds a degree in Computer Science from the Indian Institute of Technology (IIT) Kanpur and a Master’s in Public Policy from Princeton University, USA. Known for his expertise in tax policy, he has contributed significantly to formulating direct and indirect tax regulations at both state and central levels.

Shaktikanta Das, the outgoing Governor, has served since December 2018, steering the central bank through critical financial challenges. Malhotra’s appointment marks the beginning of a new chapter in the RBI’s leadership as the institution continues to navigate complex economic dynamics.

The government expressed confidence in Malhotra’s ability to strengthen India’s financial framework with his vast experience and strategic vision.