Who is Sanjay Malhotra Appointed as 26th Governor of the Reserve Bank of India (RBI)

Sanjay Malhotra, a seasoned bureaucrat and a 1990-batch Indian Administrative Service (IAS) officer from the Rajasthan cadre, has been appointed as the Governor of the Reserve Bank of India (RBI). He will assume office on Wednesday, with a tenure of three years, succeeding Shaktikanta Das.

Sanjay Malhotra Age, Educational Qualifications, Present Posting

He is a 1990-batch IAS officer of the Rajasthan cadre and is 56 years old. During his earlier years as a young IAS officer (1996-1998), Malhotra served as District Collector and District Magistrate in Chittorgarh. Later in his posting with the central government, Malhotra worked as additional secretary, Ministry of Power (2020-21). He then joined as the chairman and managing director of Rural Electrification Corporation, following which he was appointed the Financial Services Secretary from February-October 2022. After that, Malhotra was appointed Revenue Secretary.

Academic Credentials: Mr. 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.

Professional Journey

With over 33 years of diverse experience, Mr. Malhotra has contributed significantly to various sectors, including power, finance, taxation, IT, and mining.

• Recent Roles:
  • Revenue Secretary, Ministry of Finance, overseeing Goods and Services Tax (GST) reforms and serving as an ex-officio Secretary to the GST Council.
  • Secretary in the Department of Financial Services, handling financial sector policies.
  • Chairman and Managing Director of REC Limited, focusing on financing power infrastructure.
• Contributions to Tax Policy:
  As Revenue Secretary, Mr. Malhotra played a pivotal role in shaping policies for direct and indirect taxes at both state and central levels.

Succession

Mr. Malhotra replaces Shaktikanta Das, who served as the 25th RBI Governor since December 12, 2018. Mr. Das’s tenure was extended after his initial three-year term, during which he provided stability to markets following his predecessor’s abrupt resignation amidst government-RBI tensions.

Key Facts About Sanjay Malhotra

1. Extensive experience in finance, taxation, and public administration.
2. Alumnus of IIT Kanpur and Princeton University.
3. Instrumental in implementing GST reforms and managing tax policies.
4. Previous leadership in REC Limited, focusing on power project financing.
5. Will serve a three-year term as the 26th RBI Governor.

Sanjay Malhotra’s appointment is expected to bring continuity and expertise to the central bank, ensuring a stable financial ecosystem for the country.