Sanjay Malhotra has officially assumed office as the 26th Governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das whose tenure got completed on December 10. On Wednesday, Malhotra took charge. This marks the beginning of his leadership at the central bank.
Sanjay Malhotra’s appointment as RBI Governor has raised eyebrows as he is the first since Duvvuri Subbarao to move directly from the Finance Ministry to the central bank, a transition that has caught many in government circles by surprise.
Sanjay Malhotra starts his three-year term as RBI Governor. He became the second consecutive career civil servant to head the central bank. Before this, he held the position of Revenue Secretary.
Malhotra , the 26th Governor of the Reserve Bank of India is an accomplished IAS officer from the 1990 Rajasthan cadre. He holds a Computer Science Engineering degree from IIT Kanpur and a Master’s in Public Policy from Princeton University, USA.
Ahead of his appointment, Malhotra talked about the importance of understanding the economic landscape and prioritising what is best for the economy. Speaking to reporters last week, he said: “Let me first go, join. One has to understand the turf, all perspectives, and do what’s best for the economy. Here it is a different role.”
Malhotra’s vast experience and transition from the Finance Ministry to the RBI bring unique perspectives to the central bank at a critical juncture for the Indian economy. Notably, the next Monetary Policy Committee (MPC) meeting is scheduled for February 5-7, 2025, following the Union Budget 2025-26 announcement.
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