In a significant move, the Government of India has appointed Sanjay Malhotra, the current Revenue Secretary, as the next Governor of the Reserve Bank of India (RBI). As per a notification issued by the Department of Personnel and Training (DPoT), Malhotra will take on the prestigious role for a period of three years.
Shaktikanta Das, whose current term is due to end on December 10, has already been the RBI’s governor for longer than the typical five-year maximum of recent decades (since the 1960s).
Shaktikanta Das Journey
First Appointment As RBI Governor In 2018
Das was first appointed as the 25th governor of the RBI in December 2018 for a term of three years and later granted a three-year extension in 2021. He succeeded Urjit Patel on December 12, 2018.
Prior Experience
Prior to this, Das, who is a retired 1980-batch IAS officer of Tamil Nadu cadre, served as the economic affairs secretary, revenue secretary and fertiliser secretary. He also also India’s Alternate Governor in the World Bank, ADB, NDB & AIIB. In the Tamil Nadu government, he has also served as the principal secretary (industries), special commissioner (revenue), and secretary (revenue).
Educational Qualifications
Born in Bhubaneswar, Das, 67, earned bachelor’s and master’s degrees in history from St. Stephen’s College, University of Delhi.
Leadership Recognition
Shaktikanta Das was recently named the top central banker by Global Finance for the second consecutive year in 2024, with an A+ rating for his leadership in guiding the RBI through challenging economic times.
Shaktikanta Das was hospitalised in Chennai on November 25 due to issues related to ‘acidity’, and is now doing fine. Das was admitted to Apollo Hospital for observation.
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Shaktikanta Das
Meanwhile, before Shaktikanta Das was appointed as RBI Governor, he was a prominent figure in Prime Minister Narendra Modi’s administration and played a crucial role during a period of heightened tensions between the government and the central bank.
Prior to becoming RBI Governor, Das served as a Member of the 15th Finance Commission and as India’s G20 Sherpa. With over four decades of experience in governance, he held key positions in both central and state governments, focusing on finance, taxation, industries, and infrastructure.
