Revenue Secretary Sanjay Malhotra appointed new RBI Governor, replaces Shaktikanta Das
PTC Web Desk: Revenue Secretary Sanjay Malhotra was on Monday appointed new Governor of the Reserve Bank of India (RBI).
According to official documents cited by news agency ANI, the Appointments Committee of the Cabinet has named Sanjay Malhotra as the next Governor of the Reserve Bank of India for a three-year term starting December 12, 2024.
Appointments Committee of the Cabinet has appointed Revenue Secretary Sanjay Malhotra as the next Governor of the Reserve Bank of India for a three-year term from 11.12.2024 pic.twitter.com/4UfunEGEuH
— ANI (@ANI) December 9, 2024
Governor Shaktikanta Das has completed six years in office, making him the second-longest-serving RBI Governor after Benegal Rama Rau, who held the position for seven and a half years during the 1950s. Although Bimal Jalan and RN Malhotra were also granted extensions, both opted for early resignation.
Notably, extensions for RBI Governors have been announced well in advance. Bimal Jalan received confirmation four months before his term ended, D Subbarao was informed a month prior, and Shaktikanta Das himself was notified weeks ahead of his extension in 2021. However, the delay in a decision this time had sparked speculation about whether an extension is under consideration.
Shaktikanta Das
A 1990-batch Indian Administrative Service (IAS) officer from the Rajasthan cadre, Sanjay Malhotra holds a degree in Computer Science from the Indian Institute of Technology (IIT), Kanpur, and a Master's in Public Policy from Princeton University, USA. With over 33 years of service, Sanjay Malhotra has amassed extensive experience across diverse fields, including power, finance and taxation, information technology, and mining. Prior to his current role as Revenue Secretary, he served as Secretary in the Department of Financial Services.
The Department of Revenue highlights his significant contributions to tax policy development for both direct and indirect taxes. Malhotra's expertise in finance and taxation spans roles at both the state and central government levels.
- PTC NEWS
