Sign In
Learn bits
Economy, Today in News
Mahesh

09/12/24 17:53 PM IST

Revenue Secretary Sanjay Malhotra appointed new RBI Governor

In News
  • Revenue secretary Sanjay Malhotra has been appointed as the new Reserve Bank of India governor.
About Sanjay Malhotra
  • Currently serving as Revenue Secretary in the Ministry of Finance, Malhotra brings over 33 years of experience across key sectors, including finance, taxation, power, information technology, and mining.
  • An engineering graduate in Computer Science from the Indian Institute of Technology (IIT) Kanpur, Malhotra also holds a master’s degree in Public Policy from Princeton University, US. His career has spanned critical roles in both state and central governments, shaping policies in diverse fields.
  • Before his current role, Malhotra was Secretary in the Department of Financial Services, where he oversaw India’s financial and banking sectors. His earlier tenure as Chairman and Managing Director of state-run REC Ltd. saw the company through significant growth phases.
  • As Revenue Secretary since December 2022, Malhotra has played a crucial role in formulating tax policies for both direct and indirect taxes. His leadership has been instrumental in driving buoyant tax collections, a vital factor for India’s fiscal health.
  • Malhotra also served as the ex-officio Secretary to the GST Council, the body responsible for managing the Goods and Services Tax (GST) framework in India. His role required balancing the sometimes conflicting fiscal expectations of states while maintaining the integrity of the national tax system.
  • Besides taxes, Malhotra was involved in overseeing the government’s non-tax revenue sources, including income from interest on loans, dividends from public sector units (PSUs), and service fees.

More Related Current Affairs View All

05 Mar

First-ever comprehensive survey of India’s river dolphins

'Prime Minister Narendra Modi released the results of the first-ever comprehensive population estimation of riverine dolphins – Gangetic and Indus dolphins – done in In

Read More

05 Mar

Arresting women at night

'The Madurai Bench of the Madras High Court in Deepa versus S. Vijayalakshmi and Others ruled that the legal provision in the Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023, which

Read More

05 Mar

Digital Personal Data Protection Act, 2023

'The Ministry of Electronics and Information Technology (MeitY) looking to wrap up public consultations on the draft Rules for the Digital Personal Data Protection Act, 2023 by Mar

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps