Revenue Secretary Sanjay Malhotra To Replace Shaktikanta Das As RBI Governor

The Reserve Bank of India (RBI) appointed Sanjay Malhotra, a 1990-batch IAS officer from the Rajasthan cadre, as its Governor on Monday (9 December).

At present, Malhotra holds the position of Revenue Secretary within the Ministry of Finance. He is set to succeed Shaktikanta Das, who, prior to his tenure at Mint Road, held the position of secretary in the finance ministry.

RBI Governors are appointed for a tenure of three years. However, Das was reappointed in 2021, giving him a six-year tenure.

Malhotra will take over from 11 December and has been appointed for three years. His appointment comes amid RBI facing criticism for not cutting rates.

In the last meeting on 6 December, RBI decided to keep the benchmark repo rate unchanged at 6.5 per cent for the eleventh straight meeting by a 4:2 majority, and maintain the monetary policy stance ‘Neutral’.