Revenue Secretary Sanjay Malhotra has been appointed the 26th Governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das, whose term ends on December 10, 2024. The Appointments Committee of the Cabinet approved Malhotra’s appointment for a three-year term, commencing December 11.

A 1990 batch IAS officer from the Rajasthan cadre, Malhotra brings over 33 years of experience across sectors including power, finance, taxation, IT, and mining. He holds a degree in Computer Science Engineering from IIT Kanpur and a Master’s in Public Policy from Princeton University, USA.

Malhotra’s career includes significant roles in both state and central governments, with his current position as Revenue Secretary in the Finance Ministry. Previously, he served as Secretary in the Department of Financial Services within the same ministry.

Shaktikanta Das, the outgoing governor, assumed office on December 12, 2018, following the sudden resignation of Urjit Patel. Das is credited with stabilising markets during a period of tension between the RBI and the government over surplus transfer policies. His extended tenure concludes on December 10, paving the way for Malhotra to take charge.

(TOI)