Sanjay Malhotra Named as the New Governor of the Reserve Bank of India
Revenue Secretary Sanjay Malhotra has been appointed as the Governor of the Reserve Bank of India (RBI) for a three-year term, according to a government statement. Mr. Malhotra is a 1990-batch Indian Administrative Service (IAS) officer from the Rajasthan cadre.
He is a Computer Science graduate from the Indian Institute of Technology, Kanpur, and has a Master's in Public Policy from Princeton University, US.
In a career spanning over 33 years, Mr Malhotra has worked in several sectors including power, finance and taxation, information technology, mines etc.
Before he was appointed Revenue Secretary, he was Secretary in the Department of Financial Services.
He has extensive experience in finance and taxation at the state as well as the central government, according to information on the Department of Revenue website
It says Mr Malhotra played an instrumental role in tax policy formulation for direct and indirect taxes.
Mr Malhotra replaces Shaktikanta Das, whose tenure will end. Mr Das was appointed the 25th Governor of the RBI on December 12, 2018, after the abrupt exit of his predecessor Urjit Patel.
Mr. Das received an extension after completing his three-year term in office. Upon taking charge of the RBI, he quickly reassured the market, which had been rattled by the sudden resignation of Mr. Patel amid a dispute between the RBI and the government over the surplus transfer.