Government Appoints Revenue Secretary Sanjay Malhotra As RBI Governor, Replacing Shaktikanta Das

The government on Monday appointed Sanjay Malhotra, secretary (Revenue) in Ministry of Finance as the next Reserve Bank of India's Governor. Malhotra will replace Shaktikanta Das, the second-longest serving RBI Governor, after Benegal Rama Rau's seven year plus tenure.

Das was first appointed as RBI Governor in December 2018, after the then-central bank chief, Urjit Patel, resigned before his tenure ended. A three-year reappointment was then announced in December 2021 for Das.

His current tenure was set to expire on Tuesday.

Malhotra, a 1990 batch Indian Administrative Service officer from the Rajasthan cadre, is an Engineering graduate in Computer Science from the Indian Institute of Technology, Kanpur, and holds a Master's in Public Policy from Princeton University, USA.

With over 33 years of experience, Malhotra has worked across various sectors, including power, finance, taxation, information technology, and mining. He is currently serving as Secretary (Revenue) in the Ministry of Finance. Previously, he was Secretary in the Department of Financial Services, Ministry of Finance, Government of India.

Malhotra has extensive experience in finance and taxation at both State and Central Government levels. In his current role, he plays a key part in shaping tax policy for both direct and indirect taxes.

Besides, the outgoing RBI governor Das had served as a secretary in the Department of Revenue and Department of Economic Affairs of the Finance Ministry, where he directly worked on eight Union Budgets. He was also a member of the 15th Finance Commission and a Sherpa for India at the G20.

Das has also served as India's alternate governor in the World Bank, Asian Development Bank, New Development Bank, and Asian Infrastructure Investment Bank.