Mon Dec 09 23:51:51 UTC 2024: ## Veteran Bureaucrat Sanjay Malhotra Appointed New RBI Governor

**Mumbai, India** – Sanjay Malhotra, a highly experienced 1990-batch Indian Administrative Service (IAS) officer, has been appointed as the new Governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das. Malhotra’s appointment is for a three-year term.

Malhotra brings a wealth of experience spanning over 33 years in various key sectors including finance, taxation, power, information technology, and mining. His background includes a computer science engineering degree from IIT Kanpur and a master’s in public policy from Princeton University. He previously served as Revenue Secretary in the Ministry of Finance, playing a crucial role in tax policy formulation and managing government revenue streams. His experience also includes leadership roles at REC Ltd., a power sector finance company, and as ex-officio Secretary to the GST Council.

The appointment comes as the RBI faces significant challenges, including managing inflation and ensuring stable economic growth in a globally uncertain environment. Malhotra’s expertise in fiscal policy, tax administration, and financial services is expected to be invaluable in navigating these challenges.

Outgoing Governor Shaktikanta Das leaves behind a legacy of significant contributions to India’s economic and financial framework. His tenure included involvement in shaping fiscal policy, serving on the 15th Finance Commission, and representing India in various international forums, including the G20.

The transition marks a significant shift in leadership at the RBI, with Malhotra’s technical and policy expertise poised to shape the future direction of India’s monetary policy.

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