Sanjay Malhotra appointed as RBI Governor: Revenue Secretary Sanjay Malhotra has been named the 26th Governor of the Reserve Bank of India (RBI), according to an official notification issued by the Centre’s Cabinet Committee on Monday. Malhotra will assume office on December 11, 2024, following the completion of Shaktikanta Das’s six-year tenure.
Das, who was appointed as the 25th Governor on December 12, 2018, had an impactful tenure, being at the centre of crucial economic policies during challenging times especially during COVID 19 pandemic. Das was granted an extension after completing his initial three-year term. As he steps down, Sanjay Malhotra is set to take on the reins of India’s monetary policy and financial regulation, armed with an impressive educational and professional background.
From IIT Kanpur to Princeton
Sanjay Malhotra’s journey is a testament to his academic excellence. He graduated with a Bachelor’s degree in Computer Science from the prestigious Indian Institute of Technology (IIT) Kanpur in 1989. Renowned globally, IIT Kanpur is an Institute of National Importance and ranked among the top institutions in India. As per the National Institutional Ranking Framework (NIRF) 2024, it secured the 4th position in the engineering category and ranked 263rd globally in the QS World University Rankings.
Furthering his education, Malhotra pursued a Master’s degree in Public Policy from Princeton University in the United States. Established in 1746, Princeton University is one of the oldest and most esteemed institutions globally, ranked 4th by Times Higher Education and 22nd in this year’s QS World University Rankings.
A distinguished career in public service
Malhotra joined the Indian Administrative Service (IAS) in 1990 after clearing the much coveted UPSC Civil Services Examination. As part of the Rajasthan cadre, his career spans over three decades, showcasing his versatility and commitment to public service.
His professional journey has encompassed diverse sectors, including finance, power, taxation, information technology, and mining. Each role has added to his extensive expertise in governance and policy implementation. In October 2022, he was appointed Revenue Secretary, succeeding Tarun Bajaj.
As he steps into the role of RBI Governor, Malhotra inherits a mixed economic landscape-with India navigating inflationary pressures, global financial uncertainties, and the need for sustained growth, his multifaceted expertise will be important in shaping monetary policies and ensuring financial stability in the country. His tenure will likely focus on balancing growth with inflation, strengthening the banking sector, and fostering innovation in the financial ecosystem.
