RBI New Governor: Sanjay Malhotra takes charge as 26th RBI governor

Sanjay Malhotra took charge as the 26th Governor of the Reserve Bank of India (RBI) on 11 December 2024. He was welcomed at a ceremony held at the RBI headquarters. 56-year-old Malhotra has replaced outgoing Governor Shaktikanta Das. He will head the central bank during a three-year term.

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New responsibility amid economic challenges

Malhotra is taking charge of the central bank at a time when India’s economy is facing the dual challenge of slow growth and high inflation. Before taking charge, he said that he would focus on understanding various perspectives and doing what is best for the economy.

Sober image and expertise

Sanjay Malhotra has a cooperative image and is known to work together with everyone. He believes that government policy cooperation with the central bank is also necessary to control prices.

Sanjay Malhotra’s career and experience

Malhotra, originally a 1990 batch IAS officer of Rajasthan cadre, has over three decades of experience in sectors such as power, finance, and taxation. Before becoming the RBI governor, he served as Revenue Secretary in the Ministry of Finance. Apart from this, he has also served as Secretary in the Department of Financial Services.

Malhotra’s vast experience and collaborative approach is expected to help RBI meet the challenges it faces. His tenure will play a key role in shaping the Indian economy in the coming years.

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