The Center’s cabinet committee formally announced on Monday that Sanjay Malhotra, the revenue secretary, has been named the new governor of the Reserve Bank of India.
Shaktikanta Das, whose term ends on Tuesday, will be replaced by Malhotra, an IAS officer from the 1990 batch from Rajasthan. He will serve as the central bank’s 26th governor.Following Tarun Bajaj’s retirement in October 2022, Malhotra was named revenue secretary.
He received a master’s degree in public policy from Princeton University in the United States and an engineering degree in computer science from the Indian Institute of Technology in Kanpur. Throughout his more than 33-year career, he has held positions in a variety of industries, including mines, information technology, finance and taxation, and power.
He is currently the Ministry of Finance’s Secretary (Revenue). In his prior position, he served as Secretary in the Ministry of Finance’s Department of Financial Services. On December 12, 2018, Shaktikanta Das was named the RBI’s 25th governor following Urjit Patel’s sudden resignation.
After serving three-year terms, he was given an extension. When announcing the bi-monthly policy last week, Das clarified that the RBI has been operating in accordance with the freedom granted to the central bank by the statutes and that its goal is to maintain.
Das has faced numerous difficulties over the last six years, such as COVID-19 and the conflicts in the Middle East and Ukraine.His excellent handling of the world’s fastest-growing major economy has earned him two consecutive times as central banker of the year at international conferences.