The government has appointed Sanjay Malhotra, the current Revenue Secretary, as the 26th Governor of the Reserve Bank of India. He will succeed Shaktikanta Das, who has served as the RBI Governor for nearly six years.
An official government release stated, "The Appointment Committee of the Cabinet has approved the appointment of Shri Sanjay Malhotra, IAS (1990), Secretary, Department of Revenue, as Governor of the Reserve Bank of India for a period of three years, starting from 11th December 2024."
Shaktikanta Das, the 25th RBI Governor, is the second-longest-serving Governor in the bank's history, after Benegal Rama Rau.
Sanjay Malhotra is an Indian Administrative Service officer from the 1990 batch, Rajasthan cadre. He holds an engineering 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 leadership and excellence in his career, Malhotra has worked in various sectors, including power, finance, taxation, information technology, and mining. He is currently the Secretary of the Department of Revenue in the Ministry of Finance. In his previous role, he served as Secretary of the Department of Financial Services in the Ministry of Finance.
He has vast experience in finance and taxation at both the State and Central Government levels and plays a key role in tax policy formulation, covering both direct and indirect taxes.