Sanjay Malhotra: India's New RBI Governor Takes Charge

Sanjay Malhotra, India's new RBI Governor, has a 33-year administrative career and extensive experience across various sectors. He has held critical positions such as Revenue Secretary and Secretary in the Department of Financial Services.

Professional Journey and Credentials

Sanjay Malhotra, 1990-batch IAS officer from the Rajasthan cadre with an impressive 33-year administrative career
Computer Science Engineering graduate from IIT Kanpur and Master's in Public Policy from Princeton University
Extensive experience across diverse sectors including finance, taxation, power, IT, and mining
Held critical positions such as Revenue Secretary and Secretary in the Department of Financial Services
Led Rural Electrification Corporation Limited as Chairman and Managing Director
Known for driving significant policy reforms and enhancing tax collections

Key Challenges and Expectations

Taking over RBI leadership at a challenging economic period with:
- Inflation persistently above the 4% median target for about five years
- Economic growth slowing to 5.4% in the July-September quarter
- Increasing market expectations for potential interest rate cuts
Expected to balance controlling inflation and ensuring steady economic growth
Will conduct his first monetary policy review from February 5-7, 2025
Inheriting the legacy of predecessor Shaktikanta Das, who stabilized markets during critical transitions

Strategic Approach and Background

Brings a unique blend of technical and policy expertise
Proven track record in managing complex fiscal and financial frameworks
Instrumental in shaping GST system as ex-officio Secretary to the GST Council
Managed government's non-tax revenue streams, including service fees and PSU dividends
Known for a balanced approach to economic policymaking
Strong analytical skills demonstrated through leadership in multiple critical sectors
Markets have already responded to his appointment, with bond yields fluctuating and traders anticipating potential policy changes
Commitment to broader economic interests, as evidenced by recent statements encouraging tax officials to focus beyond revenue collection

India’s GDP Growth Rate Falls to 6.4%

Fitch has revised its 2025 GDP forecast for India from 6.6% to 6.4%, a decrease of 10 basis points. This is the most recent global economic news. While this may not seem like a major drop, it’

Boosting Opportunities in the Gig Economy

India is witnessing a quiet revolution in how employment is created. The announcement of 12 lakh jobs in India by 2025 is a huge step toward redefining the gig and logistics economy. With a special fo

Nirmala Sitharaman Presents the 2024-25 Economic Survey – An In-Depth Analysis

The Economic Survey 2024-25 emphasizes India's consistent economic growth, forecasting a 6.4% GDP increase in FY25. Key highlights include controlled inflation, robust trade performanc

MoMSME Unveils TEAM Initiative to Enhance Digital Presence of MSMEs in India

The Ministry of Micro, Small, and Medium Enterprises (MoMSME) has introduced the MSME Trade Enablement and Marketing (TEAM) Initiative, a pioneering initiative designed to strengthen the d

Union Budget 2025: Understanding the Concept of 'Bahi Khata'

The ‘bahi khata’ is a traditional Indian ledger employed for accounting and maintaining records. It is typically a bound book, often covered in cloth, used to track financial t

CRED Introduces e₹ Wallet, Boosting India’s Digital Currency Adoption

CRED has become the first fintech platform to incorporate India’s e₹ wallet, a digital currency supported by the RBI. In partnership with YES Bank, CRED enables users to store and

NPCI Introduces Tighter UPI Regulations Starting February 1, 2025

Starting February 1, 2025, NPCI has enforced a new rule requiring all UPI transaction IDs to be strictly alphanumeric, disallowing special characters. Transactions containing special chara

SEBI Launches iSPOT Portal to Simplify Reporting of Technical Issues

SEBI has launched the Integrated SEBI Portal for Technical Glitches (iSPOT), a unified platform designed to simplify the process of reporting technical issues by Market Infrastructure Inst

CheQ Launches Wisor: India’s First AI-Driven Credit Card Advisor

CheQ has introduced Wisor, India’s first AI-driven credit card advisor, created to help users manage their credit cards more effectively. Wisor provides personalized guidance, real-t

RBI Approves NUCFDC to Strengthen Urban Cooperative Banks

The Reserve Bank of India (RBI) has given its approval for the creation of the National Urban Cooperative Finance and Development Corporation (NUCFDC) to assist Urban Cooperative Banks (UC