Sanjay Malhotra to be next RBI Governor, replacing Shaktikanta Das

The central government on Monday named Revenue Secretary Sanjay Malhotra as the next RBI Governor.  The Appointments Committee of the Cabinet has approved Malhotra's appointment for three years starting December 11, according to an official notification.

Malhotra, a 1990 batch Rajasthan Cadre IAS Officer, will be replacing Shaktikanta Das, whose current tenure comes to an end on Tuesday, December 10.

Malhotra will be the 26th Governor of the central bank once he takes office. ALSO READ: Who is Sanjay Malhotra, set to be next RBI Governor?

Das, the 25th and current RBI Governor, took the helm from Urjit Patel in December 2018.

He is set to demit office on Tuesday after completing six years at the top helm of the RBI.

"In the last few years, we have traversed one of the most difficult periods in the history of the Indian economy, and perhaps, in the global economy also. It was a period of relentless turbulence and jolts... As a country, we can derive satisfaction that the Indian economy has not just navigated this period of trials successfully but also emerged stronger," Das remarked on Friday, as he presented key decisions as part of his last MPC review as RBI Governor.

"As we strive together towards making India a developed economy, I recall what I had said in my statement of February 8, 2023, wherein I had quoted Netaji Subhas Chandra Bose: 'Never lose your faith in the destiny of India'," added Das, a 1980 batch IAS Officer. Read more on what RBI Governor Shaktikanta Das said on December 6 

ALSO READ: Shaktikanta Das keeps repo rate on hold, revises FY25 GDP forecast to 6.6% | How economists view RBI's CRR cut, status quo on rates & stance

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