• By Nidhi Giri
  • Mon, 09 Dec 2024 05:36 PM (IST)
  • Source:JND

Revenue Secretary Sanjay Malhotra, a 1990-batch Indian Administrative Service (IAS) officer, has been appointed as the next Governor of the Reserve Bank of India (RBI) for a three-year term from December 11, the Appointments Committee of the Cabinet said on Monday. Malhotra, a seasoned bureaucrat, will be the 26th Governor of the apex bank, succeeding Shaktikanta Das, whose term is set to end Tuesday. Das, who was appointed as the RBI Governor in December 2018, has already surpassed the typical five-year tenure that has been standard in recent decades.

Who Is Sanjay Malhotra?

Sanjay Malhotra is a 1990-batch IAS officer of the Rajasthan cadre. Before his current role, Malhotra was Secretary in the Department of Financial Services, where he oversaw India’s financial and banking sectors. His earlier tenure as Chairman and Managing Director of state-run REC Ltd. saw the company through significant growth phases.

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Sanjay Malhotra also served as the ex-officio Secretary to the GST Council, the body responsible for managing the Goods and Services Tax (GST) framework in India. His role required balancing the sometimes conflicting fiscal expectations of states while maintaining the integrity of the national tax system.

Malhotra is an IIT-Kanpur alumnus and also holds a masters degree in public policy from Princeton University, US.

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As Revenue Secretary since December 2022, Malhotra has played a crucial role in formulating tax policies for both direct and indirect taxes. His leadership has been instrumental in driving buoyant tax collections, a vital factor for India’s fiscal health.