New Delhi: Revenue Secretary Sanjay Malhotra has been named the next Governor of the Reserve Bank of India (RBI), set to assume office on Wednesday for a three-year term, according to an official government announcement.

A 1990-batch Indian Administrative Service (IAS) officer from the Rajasthan cadre, Mr. Malhotra holds a degree in Computer Science from the Indian Institute of Technology, Kanpur, and a Master’s in Public Policy from Princeton University in the United States.

With a career spanning over 33 years, he has garnered diverse experience across sectors such as power, finance, taxation, information technology, and mining. Prior to his role as Revenue Secretary, Mr. Malhotra served as Secretary in the Department of Financial Services, contributing significantly to the country’s financial and taxation frameworks.

According to the Department of Revenue, he has been instrumental in shaping tax policies for both direct and indirect taxes, leveraging his extensive experience at state and central levels.

Mr. Malhotra will replace Shaktikanta Das, whose tenure concludes on Tuesday. Mr. Das, the 25th Governor of the RBI, was appointed on December 12, 2018, following the unexpected resignation of Urjit Patel amid disagreements between the central bank and the government.

During his tenure, Mr. Das played a pivotal role in stabilizing markets shaken by his predecessor's abrupt exit and guided the RBI through critical financial challenges. His term was extended after completing the initial three years, allowing him to serve a notable tenure as RBI Governor.