Sanjay Malhotra, Secretary (Revenue) in the Ministry of Finance, was named the central government’s next Governor of the Reserve Bank of India on Monday. He will succeed Shaktikanta Das, the second-longest serving RBI Governor with a six-year term.
Sanjay Malhotra was a member of the Rajasthan cadre of the Indian Administrative Service (IAS) in the 1990 batch. He holds a master’s degree in public policy from Princeton University in the United States and an engineering degree in computer science from the Indian Institute of Technology, Kanpur.
Over the course of his more than 33-year career, Sanjay Malhotra has shown leadership and success in various industries, including mines, information technology, power, finance, and taxation. He is currently the Ministry of Finance’s Secretary (Revenue). In his prior role, he was in charge of Secretary in the Department of Financial Services under the Ministry of Finance, Government of India, according to the Finance Ministry website.
Urjit Patel, the head of the central bank at the time, resigned before his term expires, and Shaktikanta Das was initially named RBI Governor in December 2018. After Benegal Rama Rau, who served for more than seven years, Das was the RBI Governor with the second-longest term.
After retiring from the service, Das—a former IAS officer who spent a significant amount of time in the Finance Ministry—became governor. His tenure as RBI Governor also brought about a more harmonious working relationship between the central bank and the Finance Ministry, following the tense relationship that characterized his predecessor’s tenure.
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