New RBI Governor: Revenue Secretary Sanjay Malhotra To Replace Shaktikanta Das

Shaktikanta Das is currently serving as the governor of the Reserve Bank of India

Revenue Secretary Sanjay Malhotra

Source : GOI

The government announced on Monday that Sanjay Malhotra, currently the revenue secretary for the government of India, will take over as the governor of the Reserve Bank of India (RBI). His tenure will be three years, starting from December 11, 2024. Malhotra, an experienced bureaucrat, will assume the role of the 26th Governor of the Reserve Bank of India, succeeding Shaktikanta Das, whose term concludes on Tuesday. Das, appointed as RBI Governor in December 2018, has exceeded the usual five-year tenure that has been the norm in recent decades.

About Sanjay Malhotra

Sanjay Malhotra is a 1990 batch Indian Administrative Service (IAS) officer from the Rajasthan cadre. He holds a degree in Computer Science Engineering from the Indian Institute of Technology, Kanpur, and a Master's in Public Policy from Princeton University, USA.

With over 33 years of distinguished service, Shri Malhotra has demonstrated leadership and excellence across a variety of sectors, including power, finance and taxation, information technology, and mining. 

He is currently serving as the Secretary (Revenue) in the Ministry of Finance. In his previous role, he was the Secretary of the Department of Financial Services in the Ministry of Finance, Government of India. Malhotra also has extensive experience in finance and taxation at both the state and central government levels. In his current position, he plays a key role in shaping tax policy for both direct and indirect taxes.

Shaktikanta Das

Meanwhile, before Shaktikanta Das was appointed as RBI Governor, he was a prominent figure in Prime Minister Narendra Modi's administration and played a crucial role during a period of heightened tensions between the government and the central bank.

Prior to becoming RBI Governor, Das served as a Member of the 15th Finance Commission and as India’s G20 Sherpa. With over four decades of experience in governance, he held key positions in both central and state governments, focusing on finance, taxation, industries, and infrastructure.