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Updated – December 10, 2024 at 05:22 PM.
Sanjay Malhotra is known for his consensus-building approach and pivotal role in implementing the new income tax regime
Sanjay Malhotra, new Governor of Reserve Bank of India
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IAS officer of 1990 batch of Rajasthan cadre Computer Science engineer from IIT-Kanpur Holds a Master’s in Public Policy from Princeton University, USA Before his stint in the Department of Revenue, he was a Secretary in the Department of Financial Services. Hailing from Rajasthan, Sanjay Malhotra, 56, is known for his consensus-building approach and pivotal role in implementing the new income tax regime, has been appointed as the new Governor of the Reserve Bank of India (RBI).
Currently serving as the Revenue Secretary in the Ministry of Finance, Malhotra will succeed Shaktikanta Das, whose second three-year term concludes on December 10.
Malhotra will assume the role of RBI Governor for a three-year term starting December 11.
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During his tenure as Secretary in the Department of Financial Services (DFS), Malhotra played a crucial role in overseeing the financial sector, particularly public sector banks and the insurance industry. One of his most notable achievements was the successful launch of the Initial Public Offering of Life Insurance Corporation, which was hailed as India’s largest IPO, raising over ₹21,000 crore for the central government.
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Colleagues describe Malhotra as a “pro-reformist” who blends his technical expertise in computer engineering from the prestigious Indian Institute of Technology (IIT), Kanpur, with a deep understanding of global financial markets and modern international financial architecture. He
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