Mon Dec 09 16:22:43 UTC 2024: ## Experienced Bureaucrat Sanjay Malhotra Appointed New RBI Governor

**NEW DELHI** – The Appointments Committee of the Cabinet has appointed Sanjay Malhotra, a 1990-batch Indian Administrative Service (IAS) officer, as the new Governor of the Reserve Bank of India (RBI). Malhotra, currently serving as Revenue Secretary in the Ministry of Finance, will assume the role for a three-year term, replacing Shaktikanta Das.

Malhotra brings a wealth of experience to the position, having served over 33 years in various key sectors including finance, taxation, power, information technology, and mining. An IIT Kanpur graduate with a Master’s in Public Policy from Princeton University, his career has encompassed critical roles in both state and central governments. His previous positions include Secretary in the Department of Financial Services and Chairman and Managing Director of REC Ltd.

As Revenue Secretary since December 2022, Malhotra played a significant role in formulating and implementing tax policies, contributing to robust tax collections. He also served as ex-officio Secretary to the GST Council, demonstrating his expertise in navigating complex fiscal challenges. His responsibilities extended to overseeing non-tax revenue sources for the government.

Malhotra will face the critical task of balancing inflation control and sustainable economic growth as RBI Governor. His extensive background in fiscal policy, tax administration, and financial services is expected to be invaluable in navigating current global economic uncertainties.

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