The Reserve Bank of India (RBI) on Wednesday announced that Sanjay Malhotra took charge as the 26th governor of the central bank today for the next 3 years. The RBI posted on X (formerly Twitter), “Shri Sanjay Malhotra takes charge as the 26th Governor of Reserve Bank of India for the next 3 years w.e.f December 11, 2024.”

The central bank also informed that the newly appointed governor will hold a press conference today at 3:00 pm. 

The Centre had, on Monday, announced the appointment of Revenue Secretary Sanjay Malhotra as the 26th Governor of the RBI, a day before incumbent Governor Shaktikanta Das’s six-year term came to an end.

Also Read

The Centre had, on Monday, announced the appointment of Revenue Secretary Sanjay Malhotra as the 26th Governor of the RBI, a day before incumbent Governor Shaktikanta Das’s six-year term came to an end.

Sanjay Malhotra is a 1990-batch Indian Administrative Service (IAS) officer from the Rajasthan cadre. Over the course of his career, he has worked across various sectors, including power, finance, taxation, information technology, and mining. A graduate in Computer Science Engineering from the Indian Institute of Technology (IIT), Kanpur, Malhotra also holds a Master’s degree in Public Policy from Princeton University. 

Malhotra has previously served as the Chairman and Managing Director of Rural Electrification Corporation Limited. Prior to his current role as Revenue Secretary, he was Secretary of the Department of Financial Services in the Ministry of Finance. 

The new governor assumes office at a challenging time for the RBI, with growing pressure to reduce interest rates as economic growth slowed to a seven-quarter low of 5.4 per cent in Q2 and inflation spiked to 6.21 per cent in October.