Revenue Secretary Sanjay Malhotra has been appointed as the Reserve Bank of India (RBI) Governor on Monday.
Currently, the 56-year-old, Malhotra is serving as the Revenue Secretary under Government of India, and is a 1990-batch IAS officer of the Rajasthan cadre.
He is a Computer Science graduate from the Indian Institute of Technology, Kanpur, and has a Master’s in Public Policy from Princeton University, US.
Sanjay Malhotra brings over 33-year of experience demonstrating leadership across various sectors, including power, finance, taxation, information technology, and mining.
His notable roles include serving as Secretary in the Department of Financial Services and as Chairman and Managing Director of REC Limited.
Before his appointment as Revenue Secretary in December 2022, he was Secretary in the Department of Financial Services. There he played a crucial role in steering financial reforms and strengthening the banking sector.
Malhotra has also been instrumental in driving growth in tax collections and has served as the ex-officio Secretary to the GST Council.
As Revenue Secretary in the Ministry of Finance, Malhotra played a pivotal role in formulating tax policies for both direct and indirect taxes. His extensive experience in finance and taxation at both state and central government levels positions him well to lead India’s central bank.
Sanjay Malhotra is taking over from Shaktikanta Das who has served six years, making him the second-longest-serving RBI governor.
According to the RBI Act, appointment of governor is approved by the PMO on the recommendation of the finance minister
The Prime Minister makes the final decision on the appointment of the RBI governor, a role considered too critical for committee deliberations.
