Tue Dec 10 13:37:24 UTC 2024: ## Rajasthan-born Bureaucrat Appointed New RBI Governor

**MUMBAI, INDIA** – Sanjay Malhotra, a 56-year-old bureaucrat from Rajasthan, has been appointed as the new Governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das whose term ends on December 10th. Malhotra, currently the Revenue Secretary in the Ministry of Finance, will assume his three-year term on December 11th.

Known for his consensus-building approach and expertise in financial policy, Malhotra has a distinguished career spanning both state and central government service. His background includes a degree in computer engineering from IIT Kanpur and a Master’s in Public Policy from Princeton University. He has held key positions including Secretary of Financial Services, where he oversaw the successful launch of the LIC IPO, and Chairman and Managing Director of Rural Electrification Corporation (REC). His recent tenure as Revenue Secretary saw the successful implementation of the new income tax regime, a significant achievement highlighted by the simplification of the Income Tax Act and clarification of GST rules for online gaming.

Colleagues describe Malhotra as a pro-reformist with a strong understanding of both domestic and international financial markets. His close working relationship with the Finance Minister is expected to ensure smooth coordination between monetary and fiscal policies. The appointment is seen as a significant step, with expectations that Malhotra will leverage his expertise to navigate the complexities of India’s financial landscape.

Read More