Sanjay Malhotra appointed RBI Governor, succeeds Shaktikanta Das

The appointment of Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India (RBI) by the Central government is a noteworthy milestone. Shaktikanta Das, whose six-year term ends on December 10, 2024, will be replaced by him.

Who is Sanjay Malhotra?

Sanjay Malhotra, a 1990-batch IAS officer from the Rajasthan cadre, brings a robust academic and professional background to his new role. A graduate in computer science engineering from the Indian Institute of Technology, Kanpur, he also holds a Master’s degree in Public Policy from Princeton University, U.S.A.

Malhotra’s appointment comes as he steps into one of the most challenging roles in the country’s financial ecosystem. He is set to take charge on December 11, 2024, and will oversee the RBI’s monetary policy and banking regulations amidst a complex economic landscape.

Key Challenges Ahead

Malhotra’s tenure begins at a critical juncture. Inflation has remained above the RBI’s median target of 4% for nearly five years, posing significant hurdles for policymakers. Compounding this, the Indian economy experienced a marked slowdown in the second quarter of the financial year, adding to the complexity of the tasks ahead.

His first major test will be the RBI’s monetary policy review scheduled from February 5 to 7, 2025, where he will need to navigate inflationary pressures while fostering economic growth.

With his strong credentials and extensive experience, Sanjay Malhotra’s leadership is expected to play a pivotal role in shaping the RBI’s future trajectory amidst these pressing challenges.

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