NEW DELHI, Dec 9: The Centre on Monday appointed the Revenue Secretary Sanjay Malhotra as the next Governor of the Reserve Bank of India (RBI) to replace Mr Shaktikanta Das who is completing six years in the office on Tuesday.
Mr Malhotra, a 1990-batch Indian Administrative Service (IAS) officer from the Rajasthan cadre, will take charge of the RBI from Wednesday for three years, the government said in a statement. Mr Malhotra 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, government information sources said. The sources said Mr Malhotra played an instrumental role in tax policy formulation for direct and indirect taxes.
His predecessor Mr Das was appointed the 25th Governor of the RBI on December 12, 2018, after the abrupt exit of his predecessor Urjit Patel and was granted an extension of three years after completing his first 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.
(Manas Dasgupta)
