The government on Monday appointed Sanjay Malhotra, secretary (Revenue) in Ministry of Finance as the next Reserve Bank of India’s Governor. Malhotra will replace Shaktikanta Das, the second-longest serving RBI Governor, after Benegal Rama Rau’s seven year plus tenure.
Das was first appointed as RBI Governor in December 2018, after the then-central bank chief, Urjit Patel, resigned before his tenure ended. A three-year reappointment was then announced in December 2021 for Das.
His current tenure was set to expire on Tuesday.
Das served as a secretary in the Department of Revenue and Department of Economic Affairs of the Finance Ministry, where he directly worked on eight Union Budgets. He was also a member of the 15th Finance Commission and a Sherpa for India at the G20.
Das has also served as India’s alternate governor in the World Bank, Asian Development Bank, New Development Bank, and Asian Infrastructure Investment Bank.