Sanjay Malhotra Takes the Helm: New RBI Governor Appointed as Shaktikanta Das’ Tenure Comes to an End

Sanjay Malhotra Takes the Helm: New RBI Governor Appointed as Shaktikanta Das’ Tenure Comes to an End

In a significant development, Sanjay Malhotra has been appointed as the new Governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das whose six-year tenure comes to an end today ¹. Malhotra, a 1990 batch IAS officer from the Rajasthan cadre, will take charge as the 26th RBI Governor for a period of three years starting December 11, 2024 ².

Malhotra brings with him a wealth of experience, having held diverse portfolios including power, finance, taxation, information technology, and mines throughout his career spanning over three decades ³. Prior to his appointment, he served as the Revenue Secretary in the Ministry of Finance and played a key role in shaping tax policies for both direct and indirect taxes.

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As the new RBI Governor, Malhotra will face several challenges, including managing inflation, boosting economic growth, and addressing the concerns of the banking sector. His appointment is seen as a significant development in the Indian banking sector, and market experts will be closely watching his policy decisions in the coming months.

Malhotra’s tenure as RBI Governor begins at a time when the Indian economy is facing several headwinds, including slow growth and high inflation. His experience and expertise will be crucial in navigating these challenges and ensuring the stability of the Indian financial system.

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