Sanjay Malhotra has been appointed RBI Governor for three years
New Delhi:
Revenue Secretary Sanjay Malhotra has been appointed Governor of the Reserve Bank of India (RBI). He will take charge from Wednesday for three years, the government said in a statement. Mr Malhotra is a 1990-batch Indian Administrative Service (IAS) officer from the Rajasthan cadre.
He is a Computer Science graduate from the Indian Institute of Technology, Kanpur, and has a Master’s in Public Policy from Princeton University, US.
In a career spanning over 33 years, Mr Malhotra has worked in several sectors including power, finance and taxation, information technology, mines etc.
Before he was appointed Revenue Secretary, he was Secretary in the Department of Financial Services.
He has extensive experience in finance and taxation at the state as well as the central government, according to information on the Department of Revenue website.
It says Mr Malhotra played an instrumental role in tax policy formulation for direct and indirect taxes.
Mr Malhotra replaces Shaktikanta Das, whose tenure will end on Tuesday. Mr Das was appointed the 25th Governor of the RBI on December 12, 2018, after the abrupt exit of his predecessor Urjit Patel.
Mr Das was granted an extension after completing his three-year term in office.
Soon after taking charge of the RBI, Mr Das provided confidence to the market shaken by the sudden resignation of Mr Patel amid a tussle between the RBI and the government over the issue of surplus transfer.