Mon Dec 09 14:41:51 UTC 2024: ## Sanjay Malhotra Appointed New RBI Governor

**New Delhi:** The Appointments Committee of the Cabinet has approved the appointment of Sanjay Malhotra, currently the Revenue Secretary, as the next Governor of the Reserve Bank of India (RBI). Malhotra, a 1990-batch IAS officer, will succeed Shaktikanta Das whose term ends on December 10, 2024. Malhotra’s three-year term will commence on December 11, 2024.

Das, who served two terms as RBI Governor, held several key positions within the Narendra Modi administration prior to his appointment at the central bank. His tenure saw a period of navigating potentially strained relations between the government and the RBI. Before becoming RBI Governor, he served as a member of the 15th Finance Commission and India’s G20 Sherpa. His four decades of experience in government included significant roles in both central and state governments, focusing on finance, taxation, industry, and infrastructure. He was instrumental in the preparation of eight Union Budgets during his time at the Ministry of Finance. Das holds a postgraduate degree from St. Stephen’s College, Delhi University.

Das’s governorship, following the abrupt resignation of his predecessor Urjit Patel amidst disagreements over surplus transfers, was marked by the rapid restoration of market confidence and a fostering of greater cooperation between the government and the RBI.

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