Shaktikanta Das will demit the office on Tuesday after completing six years as the 25th Governor of the Reserve Bank of India (RBI).
He will be succeeded by Sanjay Malhotra, a 1990-batch Indian Administrative Service (IAS) Officer, who is currently serving as the revenue secretary at the Ministry of Finance, news agency ANI reported.
Malhotra`s appointment is effective from Wednesday, December 11, 2024, and will continue for three years, as per an official notification from the Department of Personnel and Training, issued on Monday.
Here`s all you need to know about Sanjay Malhotra:
After pursuing a Bachelors degree in Computer Science from the Indian Institute of Technology-Kanpur, Sanjay Malhotra completed his Masters in Public Policy from Princeton University, USA.
His career spans over 33 years, during which Sanjay Malhotra has worked in multifarious sectors including power, finance and taxation, information technology, and mines. As a part of his present assignment, he plays an instrumental role in tax policy formulation in respect of direct and indirect taxes.
In his previous assignment, he held the post of Secretary in the Department of Financial Services under the Ministry of Finance, ANI reported.
He has extensive experience in finance and taxation at the State as well as the Central Government.
Shaktikanta Das`s six-year tenure comes to end
Incumbent RBI Governor Shaktikanta Das`s six-year tenure as the head of the central bank is ending on Tuesday. He is credited for steering his central banking roles smoothly, particularly during the Covid-19 pandemic years.
Shaktikanta Das previously served as the Secretary of the Department of Revenue and the Department of Economic Affairs under the Ministry of Finance. He assumed office as the 25th Governor of RBI on December 12, 2018, and his term was extended in 2021.
Before becoming the RBI Governor, Das was a Member of the 15th Finance Commission and served as India`s G20 Sherpa. He has over four decades of experience in governance, holding key positions in both the central and state governments across areas such as finance, taxation, industries, and infrastructure.
During his tenure in the Ministry of Finance, Das was closely involved in the preparation of eight Union Budgets. He holds a postgraduate degree from St Stephen`s College, Delhi University.
(With ANI and PTI inputs)
