Sanjay Malhotra, a 1990-batch IAS officer, has officially assumed office as the 26th Governor of the Reserve Bank of India (RBI). He succeeds Shaktikanta Das, whose six-year term concluded on December 10, 2024. Before this role, Malhotra served as Revenue Secretary in the Ministry of Finance, where he contributed significantly to shaping tax policies and boosting revenue growth. He also held the position of Secretary of the Department of Financial Services, overseeing reforms in the banking sector and promoting financial inclusion initiatives.
Shaktikanta Das, who held the position since December 2018, played a pivotal role during his tenure, particularly in steering India’s economy through challenges like the COVID-19 pandemic and managing inflationary pressures. Malhotra is expected to build on these foundations, focusing on maintaining economic stability and further strengthening India’s financial systems.
