In a significant reshuffle, Sanjay Malhotra, a seasoned Indian Administrative Service (IAS) officer of the 1990 Rajasthan cadre, has been named the new Governor of the Reserve Bank of India (RBI). He will succeed Shaktikanta Das, whose term concludes on December 10.
Malhotra brings with him a wealth of administrative expertise across diverse sectors, including finance, taxation, power, and information technology. During his tenure as Revenue Secretary in the Ministry of Finance, he played a pivotal role in shaping India’s direct and indirect tax policies, ensuring alignment with the nation’s economic growth objectives.
Shaktikanta Das has helmed the RBI since December 2018, steering the institution through critical periods, including the COVID-19 pandemic and economic reforms. As Das steps down, Malhotra is expected to continue fostering economic stability and innovation in India’s financial ecosystem.
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