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Sanjay Malhotra

About Sanjay Malhotra

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Who is Sanjay Malhotra

Senior bureaucrat Sanjay Malhotra is poised to become the 26th Governor of the Reserve Bank of India (RBI). He will take over from Shaktikanta Das, whose six-year tenure at the central bank comes to an end on 10 December, 2024. Malhotra, who is currently working with the Department of Revenue, will take charge as RBI Governor on 11 December.
Education and career
 
A 1990-batch Indian Administrative Service (IAS) officer of the Rajasthan cadre, Malhotra has held several key positions throughout his career. He holds a holds an engineering degree in Computer Science from the Indian Institute of Technology (IIT) Kanpur and a master's in public policy from Princeton University.
 
On 9 November, 2020, Malhotra assumed the role of Chairman and Managing Director of Rural Electrification Corporation (REC) Limited, a public sector enterprise under the Ministry of Power. Following this, he served as the secretary in the Department of Financial Services (DFS).
 
In October 2022, he took charge as the officer on special duty (OSD) in the Department of Revenue. In December 2022, he took over the role of Revenue Secretary in the Ministry of Finance, succeeding Tarun Bajaj. As Revenue Secretary, Malhotra was responsible for overseeing tax administration, including direct and indirect taxes, and ensuring compliance with revenue-related policies.
 
In April 2023, he was also assigned the additional charge of Secretary, Ministry of Corporate Affairs.

Latest Updates on Sanjay Malhotra

RBI cuts repo rate 25 bps to 5.25%, keeps stance neutral as inflation eases

Low inflation and strong economic growth mean Indian economy is in a 'rare Goldilocks' period, says RBI Governor

Updated On: 05 Dec 2025 | 12:08 PM IST

What India can do to address its low-inflation problem and aid growth

Traders attributed at least part of the slide to the RBI's reluctance to intervene, breaking with the practice of recent months as the currency weakened largely due to an elusive trade deal with US

Updated On: 25 Nov 2025 | 8:31 AM IST

RBI doesn't target rupee level, fall due to dollar demand: Guv Malhotra

The RBI Governor says rupee's fall is due to dollar demand, not policy moves, assures strong forex buffers and highlights improving strength of Indian banks

Updated On: 20 Nov 2025 | 7:47 PM IST

India remains anchor of stability in volatile world: RBI Guv Malhotra

The governor attributed the country's strong fundamentals to low inflation, good foreign exchange reserves, a narrow current account deficit, and the very strong balance sheets of banks

Updated On: 03 Oct 2025 | 2:58 PM IST

RBI MPC presser highlights: Low inflation opens up space for monetary policy easing, says governor

RBI MPC Meeting October 2025 highlights: At its last meeting, held from August 4 to 6, the RBI's MPC left the repo rate unchanged at 5.5 per cent; catch all the LIVE updates here

Updated On: 01 Oct 2025 | 5:08 PM IST

ECL framework proposed to be implemented from April 1, 2027: RBI Guv

The guidelines are expected to enhance credit risk management practices, promote better comparability of reported financials across institutions, he said

Updated On: 01 Oct 2025 | 1:33 PM IST

RBI 'enabling framework' to enable banks to finance domestic firms' M&A

Indian banks are barred from such lending, pushing companies to rely on shadow lenders or bonds for financing

Updated On: 01 Oct 2025 | 12:40 PM IST

Rate cut could be a close call as RBI eyes lower CPI, steady growth view

RBI will pare CPI inflation projection again, but might not change growth estimate for now; dovish undertone likely

Updated On: 28 Sep 2025 | 3:43 PM IST

Comfortable liquidity reinforced transmission of rate cuts in markets

System liquidity, as measured by the net position under the liquidity adjustment facility, has been in surplus, averaging ₹3 trillion per day since the last MPC meeting

Updated On: 07 Aug 2025 | 12:36 AM IST

MPC review: RBI hits pause on policy repo rate cuts, citing uncertainties

The central bank also cut the inflation outlook for the current financial year by 60 basis points (bps) to 3.1 per cent which is significantly below its mandated target of 4 per cent

Updated On: 06 Aug 2025 | 11:53 PM IST

RBI MPC highlights: Difficult to predict what impact tariffs will have, says RBI governor

RBI MPC Meeting August 2025 highlights: Stay tuned here for live updates

Updated On: 06 Aug 2025 | 5:43 PM IST

India's forex reserves fall $9 billion to $689 bn reflecting rupee defence

The rupee slid 1.18 per cent against the dollar in the week through August 1, marking its sharpest weekly decline in nearly three years

Updated On: 06 Aug 2025 | 1:23 PM IST

RBI holds repo rate, says uncertainty of US tariffs 'still evolving'

Policy-setting committee continues with neutral stance as governor says Indian economy holds bright prospects

Updated On: 06 Aug 2025 | 10:58 AM IST

Feb, Apr rate cuts fully transmitted, to help improve growth: RBI Governor

RBI governor says further rate reductions will depend on outlook for growth and inflation

Updated On: 25 Jul 2025 | 11:03 PM IST

Inflation undershoots, yet risks remain: Rate cuts may spark volatility

The MPC's June 2025 decision to cut the repo rate by 50 basis points - more than expected - surprised markets

Updated On: 22 Jul 2025 | 10:23 PM IST

RBI may cut rates further if inflation falls or growth slows: Guv Malhotra

While price stability remains the central bank's primary objective, growth is also a key consideration

Updated On: 15 Jul 2025 | 7:18 PM IST

Managing excess liquidity: Financial markets need more clarity now

Excess liquidity could also incentivise the banking system to extend loans at lower rates

Updated On: 10 Jul 2025 | 10:49 PM IST

Healthy balance sheets augur well for economy: RBI Governor Sanjay Malhotra

In the Financial Stability Report, RBI Governor Sanjay Malhotra says domestic resilience is strong but global tariffs, geopolitics and climate risks could impact growth

Updated On: 30 Jun 2025 | 11:30 PM IST

Indian financial system resilient amid global uncertainty: RBI report

RBI Governor says financial stability is essential for growth, urges vigilance as global structural shifts make policymaking harder amid trade fragmentation, climate risks, and geopolitical tensions

Updated On: 30 Jun 2025 | 6:07 PM IST

BS Poll: On terminal policy repo rate, Street views are evenly split

The domestic rate setting panel had cut policy repo rate by 50 basis points to5.5 per cent in the June meeting, higher than market expectation of 25 bps

Updated On: 18 Jun 2025 | 10:54 PM IST