Sanjay Malhotra is the 26th Governor of the Reserve Bank of India (RBI). On December 11, 2024, Sanjay Malhotra assumed charge as the Governor of the RBI. Regarding his professional background, Governor Sanjay Malhotra is a 1990-batch officer of the Indian Administrative Service (IAS) from the Rajasthan cadre. He has previously worked across various sectors, including power, finance, taxation, information technology, and mining.
Governor Sanjay Malhotra possesses over 33 years of professional experience. Prior to serving as the Secretary in the Ministry of Finance, he held the position of Secretary in the Department of Financial Services under the Ministry of Finance, Government of India. He holds expertise in the fields of finance and taxation at both the state and central government levels.
Sanjay Malhotra was born in the city of Bikaner, Rajasthan. He completed his primary education at the Kendriya Vidyalaya in Bikaner, after which he earned a B.Tech degree in Computer Science from the Indian Institute of Technology (IIT), Kanpur. Subsequently, he pursued a graduate degree in Public Policy from Princeton University in the United States. It is worth noting that his father was an officer in the Border Security Force (BSF).
Sanjay Malhotra began his career in the year 2000 as the Private Secretary to a Union Minister. Prior to serving as a Union Minister’s Private Secretary, he worked across various departments within the state of Rajasthan. From 2003 to 2020, he served in various departments of the Government of Rajasthan, including Mines and Minerals, Information and Broadcasting, Energy, and Commercial Taxation. From 2000 to 2003, he served as the Private Secretary to the Minister of State for Space and the Minister of State for Micro, Small, and Medium Enterprises (MSMEs). Subsequently, in 2020, he was appointed as the Additional Secretary in the Ministry of Power and also served as the Chairman and Managing Director of the Rural Electrification Corporation (REC).
Subsequently, in February 2022, he was appointed as the Secretary of Financial Services within the Ministry of Finance. While serving in this capacity, he oversaw the launch of the Initial Public Offering (IPO) of the Life Insurance Corporation (LIC) and became a member of the Board of the Reserve Bank of India. Malhotra was appointed Revenue Secretary in December 2022. During his tenure in this position, he implemented a new income tax regime. Subsequently, on December 11, 2024, Sanjay Malhotra was appointed Governor of the RBI.