Sanjay Malhotra Named New RBI Governor As Shaktikanta Das' Tenure Ends
Sanjay Malhotra, a 1990-batch IAS officer, holds an Engineering degree in Computer Science from IIT Kanpur and a Master's in Public Policy from Princeton University, USA
In a significant move, the Government of India has appointed Sanjay Malhotra, the current Revenue Secretary, as the next Governor of the Reserve Bank of India (RBI). As per a notification issued by the Department of Personnel and Training (DPoT), Malhotra will take on the prestigious role for three years.
The Appointments Committee of the Cabinet cleared Malhotra’s name, who has been appointed as the 26th RBI Governor, starting Wednesday.
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Shaktikanta Das, whose current term is due to end on December 10, has already been the RBI’s governor for longer than the typical five-year maximum of recent decades (since the 1960s).
Who Is Sanjay Malhotra?
Sanjay Malhotra, a 1990-batch Indian Administrative Service (IAS) officer of the Rajasthan cadre, holds an Engineering degree in Computer Science from the Indian Institute of Technology (IIT) Kanpur and a Master’s in Public Policy from Princeton University, USA.
With over 33 years of distinguished service, Malhotra has demonstrated exceptional leadership across various sectors, including power, finance and taxation, information technology, and mines.
Before serving as the Secretary (Revenue) in the Ministry of Finance, he held the position of Secretary in the Department of Financial Services under the Ministry of Finance, Government of India.
Malhotra has extensive expertise in finance and taxation at both the State and Central Government levels.
Shaktikanta Das Journey
First Appointment As RBI Governor In 2018
Das was first appointed as the 25th governor of the RBI in December 2018 for a term of three years and later granted a three-year extension in 2021. He succeeded Urjit Patel on December 12, 2018.
Prior Experience
Prior to this, Das, who is a retired 1980-batch IAS officer of Tamil Nadu cadre, served as the economic affairs secretary, revenue secretary and fertiliser secretary. He also also India’s Alternate Governor in the World Bank, ADB, NDB & AIIB. In the Tamil Nadu government, he has also served as the principal secretary (industries), special commissioner (revenue), and secretary (revenue).
Educational Qualifications
Born in Bhubaneswar, Das, 67, earned bachelor’s and master’s degrees in history from St. Stephen’s College, University of Delhi.
Leadership Recognition
Shaktikanta Das was recently named the top central banker by Global Finance for the second consecutive year in 2024, with an A+ rating for his leadership in guiding the RBI through challenging economic times.
Shaktikanta Das was hospitalised in Chennai on November 25 due to issues related to ‘acidity’, and is now doing fine. Das was admitted to Apollo Hospital for observation.
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