Sanjay Malhotra To Be The Next RBI Governor

10 Dec 2024 , 09:01 AM

Sanjay Malhotra, an Indian Administrative Services (IAS) officer, was named by the government to be the Reserve Bank of India’s (RBI) next governor for a three-year term. Das’s term ends on Tuesday. Malhotra assumes leadership amid requests for rate cuts to support the economy during a period of rising inflation and weakening GDP.

The IAS officer, who is currently the secretary of the Department of Revenue, is a member of the Rajasthan cadre and was born in 1990.

“The Appointments Committee of the Cabinet has approved the appointment of Sanjay Malhotra as governor, RBI, for a period of three years starting from December 11, 2024,” the government said on Monday. The central government’s appointment of Malhotra was later announced by the finance ministry’s department of financial services.

Malhotra, a career bureaucrat, holds a master’s degree in public policy from Princeton University in the United States and an engineering degree in computer science from the IIT Kanpur.

His predecessor, Das, served as both the secretary of revenue and economic affairs in the finance ministry. After serving as governor for six years—the second-longest period after Benegal Rama Rau’s 7.5 years—he steps down. Das was appointed in 2018 for a three-year term that was extended by another three years in 2021.

For feedback and suggestions, write to us at [e-mail]