Sanjay Malhotra is the New RBI Governor for a three-year term

The central government appointed Shri Sanjay Malhotra as the new Governor of the Reserve Bank of India (RBI) for a three-year term. Shri Malhotra, currently serving as the Secretary in the Department of Revenue, will succeed Shri Shaktikanta Das in the position, effective December 11, 2024.

A notification from the Department of Personnel and Training, issued on December 9, 2024, confirmed his appointment, highlighting his distinguished career as an IAS officer from the 1990 batch (Rajasthan cadre).

Shri Malhotra holds an electrical engineering degree from IIT Kanpur and a master's in public policy from Princeton University. Over his career, he has held pivotal roles, including Chairman and Managing Director of REC Limited (a Maharatna company) and Secretary in the Department of Financial Services. Since December 2022, he has served as Revenue Secretary in the Ministry of Finance, succeeding Tarun Bajaj.

From a numismatic perspective, the first banknotes featuring Shri Sanjay Malhotra's signature are expected to enter circulation soon. Banknotes dated 2024 across denominations of ₹10, ₹20, ₹50, ₹100, ₹200, and ₹500 are anticipated to bear his signature, marking the commencement of his tenure in Indian currency history. With less than 25 days remaining in the year, these 2024 notes featuring Shri Malhotra's signature may see significant demand among collectors.

Shri Sanjay Malhotra will be the 26th Governor of the Reserve Bank of India and the 24th Governor to serve post-Independence. His appointment marks a significant milestone as he takes on the responsibility of steering India's central banking system during a pivotal period for the nation's economy.

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