Sanjay Malhotra has been appointed RBI Governor for three years
New Delhi:
Finance Minister Sanjay Malhotra has been appointed Governor of the Reserve Bank of India (RBI). He will take charge for three years from Wednesday, the government said in a statement. Mr. Malhotra is a 1990-batch Indian Administrative Service (IAS) officer from Rajasthan cadre.
He is a graduate in computer science from the Indian Institute of Technology, Kanpur, and has a master's degree in public policy from Princeton University, USA.
In a career spanning over 33 years, Mr. Malhotra has worked in various sectors including power, finance and tax, information technology, mining etc.
Before being appointed Minister of Finance, he was Secretary at the Ministry of Financial Services.
According to information on the Department of Revenue website, he has extensive experience in finance and taxation in both state and central government.
Mr. Malhotra is said to have been instrumental in formulating tax policy for direct and indirect taxes.
Mr Malhotra replaces Shaktikanta Das, whose term ends on Tuesday. Mr Das was appointed the 25th Governor of the RBI on December 12, 2018, following the abrupt departure of his predecessor Urjit Patel.
Mr Das was given an extension after the completion of his three-year term.
Soon after taking charge of the RBI, Mr. Das instilled confidence in the market, which was shocked by the sudden resignation of Mr. Patel, amid a tussle between the RBI and the government over the issue of transfer of surpluses.
