Sanjay Malhotra, who was previously the Revenue Secretary, has now been appointed as the Governor of the Reserve Bank of India.

He is reportedly going to take charge of the central bank from Wednesday for the next three years, the government said in a statement.

Sanjay Malhotra is an Indian Administrative Services (IAS) officer from the 1990-batch of the Rajasthan cadre.

The Centre’s cabinet committee in an official notification that Malhotra is set to replace Former Governor Shaktikanta Das.

Shaktikanta Das’s tenure ends on December 10, 2024.

Malhotra has an illustrated career spanning over 33 years, where he has worked in various sectors including power, finance, taxation, information technology, mines, etc.

Currently appointed as the Revenue Secretary in the Ministry of Finance, Sanjay Malhotra has also held the position of Secretary in department of Financial Services under the Ministry of Finance, Government of India.

During his tenure as revenue Secretary since December 2022, Malhotra has also played a significant role in making tax policies for direct as well as indirect taxes. He was also responsible for driving buoyant tax collection which is crucial for India’s fiscal health.

Earlier, Malhotra had also served as the ex-officio Secretary to the GST Council, the body responsible for managing the Goods and Services Tax (GST) framework in India. As part of this role he had to balance conflicting fiscal expectations of the states while maintaining the integrity of the national tax system.

(This is a developing story).