Sanjay Malhotra Appointed as RBI’s 26th Governor, Taking Charge on December 11
Sanjay Malhotra Appointed as the 26th Governor of RBI
The Government of India has appointed Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India (RBI). He will succeed Shaktikanta Das, whose tenure ends on December 10. Malhotra will assume charge as RBI Governor on December 11. The Cabinet approved his appointment on December 9.
Shaktikanta Das: A 6-Year Legacy
Shaktikanta Das has served as RBI Governor since December 12, 2018. His tenure was later extended by three years. Under his leadership, the RBI navigated critical financial challenges, including the COVID-19 pandemic and demonetization in 2016. Das is a 1980-batch IAS officer from the Tamil Nadu cadre and a postgraduate from Delhi’s St. Stephen’s College.
Who is Sanjay Malhotra?
Sanjay Malhotra, a 1990-batch IAS officer from the Rajasthan cadre, holds a Bachelor’s degree in Computer Science from the Indian Institute of Technology, Kanpur, and a Master’s in Public Policy from Princeton University, USA.
With over 33 years of experience, Malhotra has worked in diverse fields, including power, finance, taxation, and information technology. As Revenue Secretary in the Ministry of Finance, he played a vital role in formulating direct and indirect tax policies. Before this role, he served as Secretary in the Department of Financial Services.
Expertise in Reforms and Leadership
Malhotra’s tenure is marked by a deep understanding of financial policies and reforms. His meticulous approach and thorough research have made him a trusted officer in Prime Minister Narendra Modi’s team. Known for his reformist stance, he has contributed significantly to tax policy and financial services during his government service.
Shaktikanta Das’s Contributions
Shaktikanta Das, a key figure during India’s demonetization, served in various roles for 38 years. As a member of the 15th Finance Commission, he represented India in global forums like BRICS, the International Monetary Fund (IMF), and SAARC.
Das emphasized decisive measures for India’s economic recovery and predicted a 9.5% growth rate for FY 2022, despite challenges posed by the pandemic.
A Promising Future
With Malhotra’s extensive experience and visionary leadership, the RBI is poised for a promising future under his governance. His tenure is expected to focus on strengthening India’s financial infrastructure and navigating global economic challenges.
