After a surprise announcement and appointment, the former revenue secretary of India, Sanjay Malhotra, took charge as the Governor of the Reserve Bank of India. Malhotra arrived in RBI’s principal seat and headquarters in Mumbai’s Mint Street.
Sanjay Malhotra At Mint Street
Malhotra took charge as the 26th Governor of the country’s Central Bank. He succeeds Shaktikanta Das, the 67-year-old 25th governor of RBI.
Malhotra has over 34 years of experience in the Indian bureaucracy.
Malhotra was welcomed by his new team including the central bank’s deputy governors Michael Patra, M. Rajeshwar Rao, T. Rabi Sankar and Swaminathan Janakiraman, all of whom are career bankers unlike Sanjay Malhotra.
Career To Bureucrat To Top Banker
The 56-year-old career bureaucrat has worked in other departments, including power, finance and taxation, information technology, and mines.
His tenure as the chief of the revenue department started in 2022.
This appointment is an extension of the recent policy of appointing bureaucrats at the helm of the central bank. Indian Administrative Service Officer of 1990 Batch Rajasthan Cadre. Malhotra’s predecessor, Das, is also a career bureaucrat who, like Das has also worked in the Revenue Department.
The first two governors under the Modi government, Raghuram Rajan and Urijit Patel were economists, who did not complete their 3-year term, as they left the office before time, citing personal reasons.
Malhotra has been appointed for a period of three years, as is the convention.
Malhotra, before joining the civil services completed his academic life from premier institutions. He graduated in Computer Science or CS, from the prestigious IIT Kanpur. He then went onto to do his Masters in Public Policy from Princeton University.
RBI Governor To Address The Media
After taking charge, Sanjay Malhotra will address the media for the first time as the RBI governor on December 11, 2024, at 15:00 IST.
