Sanjay Malhotra, an IAS officer from the Rajasthan cadre of the 1990 batch, has been designated as the new Governor of the Reserve Bank of India (RBI) for a term of three years. Malhotra’s considerable experience in major sectors may assist him as he assumes the pivotal position, succeeding the departing Governor Shaktikanta Das.
Presently holding the position of Revenue Secretary in the Ministry of Finance, Malhotra possesses more than 33 years of varied experience across finance, taxation, power, information technology, and mining.
He graduated with a degree in Computer Science from the Indian Institute of Technology (IIT) Kanpur and earned his master’s degree in Public Policy at Princeton University, USA, combining technical knowledge with policy understanding in his endeavors.
In his prior positions, Malhotra has been crucial in influencing India’s financial and economic strategies. In his role as Secretary of the Department of Financial Services, he managed changes in the banking and financial industries.
Previously, while serving as Chairman and Managing Director of REC Ltd., a state-owned finance company in the power sector, he guided the organization through major growth and modernization periods.
As the newly appointed RBI Governor, Malhotra will encounter major challenges, such as controlling inflation and maintaining stable economic growth in the face of global uncertainties.
His knowledge in fiscal policymaking, tax administration, and financial services is anticipated to significantly influence the development of India’s monetary policy and tackle new economic challenges.
