New RBI Governor: Meet Sanjay Malhotra, IIT-Kanpur Grad Who Pursued Public Policy, Set To Replace Shaktikanta Das

Das, who was appointed as the 25th RBI Governor on December 12, 2018, took office following Urjit Patel's sudden resignation. He was granted an extension after completing his initial three-year term

Sanjay Malhotra is an Indian Administrative Service (IAS) officer from the 1990 batch of the Rajasthan cadre

Source : GOI

The central government announced on Monday the appointment of revenue secretary Sanjay Malhotra as the new Governor of the Reserve Bank of India, replacing Shaktikanta Das with a three-year term starting from December 11, 2024. Das’s six-year tenure comes to an end on Tuesday.

Das, who was appointed as the 25th RBI Governor on December 12, 2018, took office following Urjit Patel's sudden resignation. He was granted an extension after completing his initial three-year term, which will conclude on December 10, 2024.

Before being appointed RBI Governor, Das was a key figure in Prime Minister Narendra Modi's administration, playing a crucial role during tense relations between the government and the central bank. He also 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 prominent roles in both central and state governments, with a focus on finance, taxation, industries, and infrastructure.

Who Is Sanjay Malhotra

Sanjay Malhotra is an Indian Administrative Service (IAS) officer from the 1990 batch of the Rajasthan cadre. He holds a degree in Computer Science Engineering 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, Shri Malhotra has demonstrated exceptional leadership across a wide range of sectors, including power, finance and taxation, information technology, and mining. He currently serves as the Secretary (Revenue) in the Ministry of Finance. Previously, he held the position of Secretary in the Department of Financial Services under the Ministry of Finance, Government of India.

Shri Malhotra has extensive finance and taxation expertise at the state and central government levels. In his current role, he plays a pivotal role in shaping tax policy for both direct and indirect taxes.