Mon Dec 09 14:05:30 UTC 2024: ## Sanjay Malhotra Appointed as New RBI Governor
**New Delhi:** The Reserve Bank of India (RBI) has a new governor. Sanjay Malhotra, currently the Secretary in the Department of Revenue, Ministry of Finance, has been appointed as the 26th Governor of the RBI, succeeding Shaktikanta Das. The appointment was announced by the Department of Personnel and Training (DoPT) and will be effective from December 11, 2023, for a three-year term.
Mr. Malhotra, a 1990-batch IAS officer of the Rajasthan cadre, holds an engineering degree in Computer Science from IIT Kanpur and a postgraduate degree from Princeton University. He brings extensive experience across diverse sectors including power, finance and taxation, information technology, and mining, spanning a 33-year career.
Shaktikanta Das’s current term as RBI Governor concludes on December 10, 2023. Das, a retired IAS officer of the Tamil Nadu cadre (1980 batch), served as Economic Affairs Secretary, Revenue Secretary, and Fertilizer Secretary before his appointment as RBI Governor in December 2018. His term was extended in 2021. He also served as India’s alternate governor in various international financial institutions including the World Bank, ADB, NDB, and AIIB.
The government’s selection of Mr. Malhotra marks a significant change in leadership at the central bank. His background in finance and public administration will likely shape the RBI’s policies in the coming years.
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