The Indian government appointed Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India on December 9, 2024. His three-year term began on December 11, 2024, when he succeeded Shaktikanta Das, whose six-year tenure ended on December 10.
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Malhotra is a 1990-batch Indian Administrative Service officer from the Rajasthan cadre. He holds a computer science engineering degree from IIT Kanpur and a master’s degree in public policy from Princeton University. Before his appointment he was Secretary of the Department of Revenue in the Ministry of Finance, and earlier Secretary of the Department of Financial Services.
The handover
Das had served since December 2018, first after the resignation of Urjit Patel, and was given an extension in 2021. Reports at the time described Malhotra as taking over at a time when economic growth had slowed.
Editor’s note: an earlier version of this article described Malhotra’s career in more detail than the sources confirm. The article has been rewritten to report the appointment and the background confirmed by government and news reports.
Sources
- Business Standard, Revenue Secretary Sanjay Malhotra succeeds Shaktikanta Das as RBI governor (9 December 2024): https://business-standard.com/economy/news/revenue-secretary-sanjay-malhotra-succeeds-shaktikanta-das-as-rbi-governor-124120901114_1.html
- Deccan Herald, Centre appoints Revenue Secretary Sanjay Malhotra as new RBI Governor (9 December 2024): https://www.deccanherald.com/amp/story/business%2Fcentre-appoints-revenue-secretary-sanjay-malhotra-as-new-rbi-governor-3309914
- Business Today, Revenue Secretary Sanjay Malhotra appointed RBI Governor (9 December 2024): https://businesstoday.in/india/story/rbi-governor-rbi-revenue-secretary-sanjay-malhotra-revenue-secretary-sanjay-malhotra-shaktikanta-das-456717-2024-12-09
- YourStory, Government appoints Sanjay Malhotra as new RBI governor (11 December 2024): https://nextjs-prod.yourstory.com/2024/12/government-appoints-sanjay-malhotra-new-rbi-governor-shaktikanta-das