Revenue secretary Sanjay Malhotra takes over as RBI Governor; all you need to know
Before serving as Revenue Secretary, Malhotra held the position of Secretary in the Department of Financial Services, where he gained extensive expertise in finance and taxation at both state and central government levels.
FollowRevenue Secretary Sanjay Malhotra has been appointed as the Governor of the Reserve Bank of India (RBI) for a three-year term, beginning Wednesday, according to a government announcement. A seasoned bureaucrat, Malhotra is a 1990-batch Indian Administrative Service (IAS) officer from the Rajasthan cadre.
An alumnus of the Indian Institute of Technology (IIT) Kanpur, where he earned a degree in Computer Science, Malhotra also holds a Master's in Public Policy from Princeton University, USA. With over 33 years of administrative experience, he has made significant contributions across various sectors, including power, finance, taxation, information technology, and mining.
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Before serving as Revenue Secretary, Malhotra held the position of Secretary in the Department of Financial Services, where he gained extensive expertise in finance and taxation at both state and central government levels.
His tenure in the Department of Revenue is noted for his pivotal role in shaping tax policy for both direct and indirect taxes. This experience is expected to bolster his approach to managing India's monetary policy and financial system as he assumes leadership at the RBI.
The government's decision to appoint Malhotra comes at a crucial time when the RBI is navigating challenges like inflation control, financial stability, and fostering economic growth. Observers anticipate that his administrative acumen and policy-making experience will contribute significantly to India's central bank.
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