Mon Dec 09 18:51:32 UTC 2024: ## Sanjay Malhotra Appointed New RBI Governor, Succeeding Shaktikanta Das

**Mumbai, India** – The Union Cabinet has approved the appointment of Sanjay Malhotra as the next Governor of the Reserve Bank of India (RBI). Malhotra, a 1990 batch IAS officer currently serving as Revenue Secretary, will assume office on December 11, 2024, succeeding Shaktikanta Das whose term ends on December 10, 2024. The RBI Governor’s term is three years.

Malhotra’s appointment has sparked public interest in the perks and salary of the prestigious position. While the exact value is debated, former RBI Governor Raghuram Rajan reportedly stated in a podcast that the official residence in Mumbai’s Malabar Hill is worth approximately ₹450 crore. The Governor also receives a salary of around ₹2.5 lakh per month, exceeding that of the Prime Minister. Additional benefits include a car with driver and a househelp.

Malhotra, a Rajasthan cadre IAS officer, holds an engineering degree in Computer Science from IIT Kanpur and a Masters in Public Policy from Princeton University. His 33-year career in government service is marked by a strong background in financial services. The article also briefly mentions the salary of Deputy Governors (₹2.25 lakh) and Executive Directors (₹2.16 lakh) at the RBI. The article includes a separate, unrelated section about Justice Yadav, a judge of the Allahabad High Court. This section has been omitted from the news summary due to irrelevance.

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