Government has appointed Sanjay Malhotra as Governor of RBI.
RBI Governor Sanjay Malhotra
In a major move, the Government of India has appointed current Revenue Secretary Sanjay Malhotra as the next Governor of the Reserve Bank of India (RBI). According to a notification issued by the Department of Personnel and Training (DPOT), Malhotra will hold the prestigious role for a period of three years.
The Appointments Committee of the Cabinet approved the name of Malhotra, who has been appointed as the 26th RBI Governor starting from Wednesday.
Shakti Kanta Das, whose current term is due to end on December 10, has already taken over the post. of RBI The typical five-year maximum tenure of a governor in recent decades (since the 1960s).
Who is Sanjay Malhotra?
Sanjay Malhotra, a 1990 batch Indian Administrative Service (IAS) officer of the Rajasthan cadre, holds an Engineering degree in Computer Science from the Indian Institute of Technology (IIT) Kanpur and a Master’s degree in Public Policy from Princeton University, USA.
With over 33 years of distinguished service, Malhotra has demonstrated exceptional leadership in various sectors including power, finance and taxation, information technology, and mines.
Before serving as Secretary (Revenue) in the Ministry of Finance, he held the post of Secretary in the Department of Financial Services under the Ministry of Finance, Government of India.
Malhotra has extensive expertise in finance and taxation at both state and central government levels.
The Journey of Shaktikanta Das
First appointment as RBI Governor In 2018
Das was first appointed as the 25th RBI Governor in December 2018 for a three-year term and was later extended by three years in 2021. He succeeded Arijit Patel on 12 December 2018.
Prior experience
Earlier, Das, a retired IAS officer of 1980 batch of Tamil Nadu cadre, served as Economic Affairs Secretary, Revenue Secretary and Fertilizer Secretary. He is also the Alternate Governor of India at the World Bank, ADB, NDB and AIIB. In the Tamil Nadu government, he has also served as Principal Secretary (Industries), Special Commissioner (Revenue) and Secretary (Revenue).
Educational qualification
Born in Bhubaneswar, Das, 67, earned bachelor’s and master’s degrees in history from St. Stephen’s College, Delhi University.
Recognition of leadership
Shaktikanta Das was recently named the top central banker in 2024 by Global Finance for the second consecutive year, with an A+ rating for his leadership in guiding the RBI through tough economic times.
Shaktikanta Das was admitted to a Chennai hospital on November 25 due to ‘acidity’ related problems, and is now doing well. Das was admitted to Apollo Hospital for observation.