RBI new governor: The Indian government has appointed Sanjay Malhotra as the 26th Governor of the Reserve Bank of India (RBI). Malhotra, a 1990-batch IAS officer from the Rajasthan cadre, is currently serving as Revenue Secretary. He will take over as RBI Governor from Shaktikanta Das, whose tenure will be ending on December 10, 2024. The Appointments Committee of the Cabinet named Malhotra as the next Governor of the Reserve Bank of India for a three-year term. He will assume the office on December 11, 2024.
Malhotra played key role in financial reforms
With over 33 years of experience across sectors such as finance, taxation, and governance, Malhotra previously served as the Revenue Secretary and Secretary of the Department of Financial Services. He played a key role in financial reforms, strengthening the banking sector, and driving tax growth. His leadership comes at a critical time as India faces significant economic challenges and reforms.
Who is Sanjay Malhotra?
Malhotra is an engineering graduate in Computer Science from IIT Kanpur and holds a postgraduate degree in Public Policy from Princeton University. He has worked across various sectors including finance, electricity, taxation, IT, and mining, showcasing leadership and excellence. Malhotra's diverse experience has played a crucial role in driving significant reforms and initiatives in India.
Shaktikanta Das' tenure comes to an end
Incumbent RBI Governor Shaktikanta Das has served as the head of the central bank for six years and his term is ending on December 10. He steered his central banking roles quite smoothly, particularly during the Covid-19 pandemic years. Shaktikanta Das, a seasoned bureaucrat, previously served as the Secretary of the Department of Revenue and the Department of Economic Affairs under the Ministry of Finance. He assumed office as the 25th Governor of the RBI on December 12, 2018, with his term extended in 2021.
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