In a significant development, the Modi government has appointed Sanjay Malhotra, the current Revenue Secretary, as the 26th Governor of the Reserve Bank of India (RBI). Malhotra, a 1990-batch IAS officer from the Rajasthan cadre, will succeed Shaktikanta Das, whose term concludes on December 10, 2024.
Known for his extensive experience in economic and financial governance, Malhotra has held various key positions at both the state and central levels. As Revenue Secretary, he played a pivotal role in shaping tax policies and overseeing revenue administration. His transition to the RBI is expected to bring his expertise in fiscal management to the monetary policy domain.
Malhotra will assume the RBI’s top position at a crucial juncture as the Indian economy navigates challenges such as inflation control, interest rate stabilization, and global economic uncertainties. He is anticipated to continue steering the RBI’s focus on fostering economic growth, maintaining financial stability, and implementing regulatory reforms.