New Delhi: Sanjay Malhotra has been appointed as the new Governor of the Reserve Bank of India (RBI), effective Wednesday for a term of three years, as announced by the government. Malhotra is a 1990-batch Indian Administrative Service (IAS) officer from Rajasthan.
He graduated in Computer Science from the Indian Institute of Technology, Kanpur, and holds a Master’s degree in Public Policy from Princeton University in the United States. With a career exceeding 33 years, Malhotra has worked across various sectors such as power, finance and taxation, information technology, and mining. Prior to his role as Revenue Secretary, he served as Secretary in the Department of Financial Services.
He possesses extensive knowledge in finance and taxation at both state and central government levels, as noted on the Department of Revenue’s website. Malhotra was key in shaping tax policies for both direct and indirect taxes. He succeeds Shaktikanta Das, whose tenure concludes on Tuesday. Das became the 25th Governor of the RBI on December 12, 2018, following the unexpected resignation of his predecessor, Urjit Patel.
Das received an extension after fulfilling his initial three-year term. Upon taking office, Das instilled confidence in the market that had been unsettled by Patel’s abrupt departure amid tensions between the RBI and the government regarding surplus transfers.
