Mumbai (Maharashtra) [India], December 11 : Sanjay Malhotra has officially taken charge as the 26th Governor of the Reserve Bank of India (RBI) on Wednesday.
His tenure is set for three years, during which he will oversee the central bank's critical functions, including monetary policy, financial regulation, and ensuring economic stability in the country.
The RBI in a social media post said "Sanjay Malhotra takes charge as the 26th Governor of Reserve Bank of India for the next 3 years w.e.f December 11, 2024"
Malhotra, a senior bureaucrat with extensive experience in economic and financial matters, brings a wealth of knowledge to his new role.
He succeeds Shaktikanta Das, who served as the Governor of the RBI since December 2018 and was instrumental in steering the Indian economy through various challenges, including the COVID-19 pandemic.
As the head of the RBI, Malhotra is expected to focus on maintaining inflation targets, boosting economic growth, and ensuring the financial sector's resilience amidst global uncertainties.
Sanjay Malhotra is an Indian Administrative Service Officer of the 1990 Batch Rajasthan Cadre. He is an Engineering Graduate in Computer Science from the Indian Institute of Technology, Kanpur and has a Master's in Public Policy from Princeton University, USA.
With demonstrated leadership and excellence in his career of over 33 years, Sanjay Malhotra has worked in multifarious sectors including power, finance and taxation, information technology, mines etc.
He has extensive experience in finance and taxation at the State as well as the Central Government. As a part of his present assignment, he plays an instrumental role in tax policy formulation in respect of direct and indirect taxes.
Former RBI Governor Shaktikanta Das had served as the head of the central bank for six years and his term ended on December 10.
Restoring balance between growth and inflation under the RBI target is the most important task ahead of the new RBI governor.
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