Malhotra will succeed Shaktikanta Das, who was touted to be given an extension as the central bank governor for a third term, extending his leadership until December 2026. As the new RBI Governor, Malhotra will face the dual challenge of managing inflation and ensuring stable economic growth.
AMN / NEW DELHI
Revenue Secretary Sanjay Malhotra has been appointed as the 26th Governor of the Reserve Bank of India (RBI) for a term of three years effective from December 11.Â
In a notification, the Department of Personnel and Training stated that Malhotra will be the next RBI Governor for a period of three years starting 11 December, 2024.
Sanjay Malhotra, an Indian Administrative Service (IAS) officer of the 1990 batch from the Rajasthan cadre, holds a degree in electrical engineering from the Indian Institute of Technology (IIT) Kanpur and a master’s in public policy from Princeton University.
Throughout his career, Malhotra has held several key positions, including the Chairman and Managing Director of REC Limited (a Maharatna company), Secretary in the Department of Financial Services, among others. In December 2022, he took over the role of Revenue Secretary in the Ministry of Finance, succeeding Tarun Bajaj.
In April 2023, he was also assigned the additional charge of Secretary, Ministry of Corporate Affairs.
With demonstrated leadership and excellence in his career of over 33 years, Malhotra has worked in multifarious sectors including power, finance and taxation, information technology, mines etc. Presently he is Secretary (Revenue) in Ministry of Finance. In his previous assignment, he held the post of Secretary in Department of Financial Services under the Ministry of Finance, Government of India.