Sanjay Malhotra | Know about RBI New Governor 2024
Sanjay Malhotra Revenue Secretary Sanjay Malhotra has been named the new RBI Governor. Sanjay Malhotra, at age of 56, will take over from Shaktikanta Das on December 11 as the 26th Governor of RBI.
Sanjay Malhotra has been appointed as the new Reserve Bank of India governor on Monday 11 December 2024 in a letter Department of Financial Services said Cabinet has approved the appointment of Sanjay Malhotra as governor of Reserve Bank of India for a period of 3 years from December 11th.
Sanjay Malhotra is currently serving as Revenue secretary in the Ministry of Finance he will take over from Shaktikanta Das who had also served as Secretary in the Ministry Of Finance before his RBI Governor.
Background: Sanjay Malhotra
Sanjay Malhotra in 1990, He cracked the Civil Service Examination and then Sanjay Malhotra is an Indian administrative Service (IAS) Officer of 1990 batch. His belongs to Rajasthan. Malhotra Completed his engineering in Computer Science branch from the Indian Institute of Technology(IIT) Kanpur. Malhotra is an IIT-Kanpur alumnus and Did Masters degree In Public Policy from the Princeton University Of USA.
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Career Highlights: Sanjay Malhotra
In his career they serving the nation over 33 years. Sanjay Malhotra has worked in various sectors, Various financial institution like Power Finance and Taxation information technology and Mines Etc. Sanjay Malhotra have a broad understanding of the financial landscape and as of Now he secretary Revenue in the Ministry of Finance he held the post of secretary in the Department of Financial Services Under the Ministry of Finance government of India he has extensive experience in finance and Taxation at the state as well as the central government and as a part of his present assignment he plays an instrumental role in tax policy formulation in respect of direct and indirect taxes
Sanjay Malhotra | Past Experiences:
- Assumed the role of Chairman & Managing Director of REC on November 9, 2020
- Has over 30 years of experience in power, finance, taxation, IT, and mining sectors
- Instrumental in appointing distribution franchisees and introducing PPP in transmission in Rajasthan NDIA
- As Additional Secretary in the Ministry of Power, contributed to reforms and privatization of distribution utilities in Union Territories
- Before revenue secretary, Malhotra was secretary in Department of Financial Services
- Malhotra was also the ex-officio Secretary to the GST Council
- Malhotra was also chairman and managing director of state-run REC
- He has worked in diverse sectors including power, finance and taxation, information technology, mines etc.
CHALLENGES AHEAD: Sanjay Malhotra
- Managing growth-inflation balance, 4% inflation target
- Ensuring credit flow to industry while watching risk build-up on bank balance sheets
- Rein in inflation to align it with the 4% target
- Enhance financial system’s resilience
- Combat rising cyber risks
- Deft management of external sector
- Decisions on Expected Credit Loss regime, Liquidity Coverage Ratio
- Support Innovation in digital payment systems and customer protection
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