Sanjay Malhotra officially assumed office as the 26th Governor of the Reserve Bank of India (RBI) on Wednesday, December 11, 2024, for a three-year term. The RBI confirmed the appointment through a post on X (formerly Twitter), stating, “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.”

Earlier this week, on Monday, the Government of India announced Malhotra’s appointment as the RBI Governor, just a day before the conclusion of Shaktikanta Das’s six-year tenure.

A 1990-batch IAS officer from the Rajasthan cadre, Malhotra has extensive experience across various sectors, including power, finance, taxation, IT, and mining. He holds a Computer Science Engineering degree from IIT Kanpur and a Master’s in Public Policy from Princeton University. Malhotra has previously held prominent roles, including Chairman and Managing Director of Rural Electrification Corporation Limited, and Secretary of the Department of Financial Services in the Ministry of Finance.

He takes over at a critical juncture, with the RBI facing pressure to address economic challenges, including a slowdown in growth to 5.4% in Q2 and a rise in inflation to 6.21% in October.