Sanjay Malhotra appointed India’s 26th RBI Governor. Who is he?

India has a new Reserve Bank governor.

The Centre has appointed Revenue Secretary Sanjay Malhotra as the 26th Reserve Bank of India governor.

Malhotra succeeds RBI governor Shaktikanta Das, whose term ends on Tuesday (10 December).

Malhotra’s term will begin the next day, on December 11.

He will serve as the RBI governor for the next three years.

But what do we know about the 56-year-old?

Let’s take a closer look:

What do we know about him?

As per The Times of India, Malhotra is a 1990-batch Indian Administrative Service Officer of the Rajasthan cadre.

Malhotra has a Bachelor’s degree in computer science from IIT Kanpur.

He also did his Master’s degree in public policy from the prestigious Princeton University.

As per CNBC, Malhotra is a seasoned bureaucrat.

He brings to the job over three decades of experience.

He has worked in several sectors – finance, power, IT, taxation and mines – and taken up senior roles at the Centre and state.

Malhotra was appointed Revenue Secretary in December 2022.

He succeeded the retiring Tarun Bajaj, as per Hindustan Times.

Prior to that, Malhotra  was the Secretary in the Department of Financial Services.

Malhotra is said to have been instrumental in pushing through financial reforms and firming up the banking sector.

Malhotra was also the ex-officio Secretary to the GST Council. He was said to be key to increasing growth in tax collections.

As per The Times of India, Dasi s thought to have wide-ranging expertise in finance and taxation at both state and central government levels.

He is thought to have had many key inputs when it comes to direct and indirect tax policies, as per the Department of Revenue website.

Malhotra was also the chairman and managing director of the state-run Rural Electrification Corporation – a maharatna company under the ambit of the power ministry.

He is said to be known for his strategic thinking.

As per India Today, Malhotra also managed the government’s non-tax revenue sources such as income from interest on loans, dividends from public sector units (PSUs), and service fees.

As per Indian Express, Das, speaking at a Customs Department event last week, told officials to be “careful and cautious” while sending tax notices to firms.

He said they do so in order to “not kill the golden goose.”

Das was appointed as the 25th Governor of the RBI on December 12, 2018, after the abrupt exit of Urjit Patel.

Das was granted an extension after completing three-year terms in office.

Soon after taking charge of the Mint Street office, he provided confidence to the market shaken by the sudden resignation of Patel amid a tussle between the RBI and the government over the issue of surplus transfer.

Das this year was ranked the top central banker by the US-based Global Finance magazine.

This is the second consecutive year that he has been ranked as the top central banker globally.

Das has been placed at the top of the list of three central bank governors, who have been rated A+.

Grades are based on a scale from A to F for success in inflation control, economic growth goals, currency stability and interest rate management, according to a statement by Global Finance magazine.

An ‘A’ represents excellent performance, while an ‘F’ for outright failure.

Denmark’s Christian Kettel Thomsen, and Switzerland’s Thomas Jordan were also ranked under the ‘A+’ category of central bankers.

With inputs from agencies