Tue Dec 10 09:51:47 UTC 2024: ## Government Appoints Sanjay Malhotra as New RBI Governor
**NEW DELHI** – The Indian government announced the appointment of Sanjay Malhotra as the next governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das. Malhotra, a 1990 batch IAS officer from the Rajasthan cadre, will assume the role on December 11, 2024, for a three-year term.
The 56-year-old brings a wealth of experience from a 33-year career in public policy, holding diverse portfolios including power, finance, taxation, information technology, and mines. He previously served as Revenue Secretary in the Ministry of Finance, Chairman and Managing Director of REC, and Secretary in the Department of Financial Services. His expertise extends to shaping tax policies and driving tax collections, serving as ex-officio secretary to the GST Council. Malhotra holds an engineering degree from IIT Kanpur and a master’s in public policy from Princeton University.
Malhotra’s appointment comes at a critical juncture for the Indian economy, grappling with high inflation and slow growth. His recent public statements indicate a focus on balancing revenue generation with economic stability, prioritizing the overall health of the economy over short-term tax collection targets. He has emphasized the importance of tax certainty and stability.
Outgoing governor Shaktikanta Das concluded his six-year tenure on December 10, 2024. His final Monetary Policy Committee meeting maintained the repo rate at 6.5 percent. Malhotra’s appointment continues a trend of appointing former civil servants to lead the central bank.
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