Revenue Secretary Sanjay Malhotra appointed as New RBI Governor

MUMBAI : Revenue Secretary Sanjay Malhotra has been appointed as Governor of the Reserve Bank of India (RBI). He will take charge from Wednesday for three years, the government said in a 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.

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 on Tuesday. 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 was granted an extension after completing his three-year term in office.

Soon after taking charge of the RBI, Mr Das provided confidence to the market shaken by the sudden resignation of Mr Patel amid a tussle between the RBI and the government over the issue of surplus transfer.