Who is Sanjay Malhotra? Here's all you need to know about new RBI Governor

The first-ever Monetary Policy Committee under newly-appointed RBI Governor Sanjay Malhotra will announce its decision on the benchmark interest rates today. Days after the Union Budget FY26 proposed massive rejig under the new tax regime to boost consumption, there is a strong buzz around 0.25 percent rate cut to tackle sluggish pace of the Indian Economy.

As the markets await the announcement, the spotlight will be on the new RBI Governor and his stance on the financial scenario. At 10:00 am, the Malhotra will announce the MPC’s decision. Later, around the noon time, Malhotra will be addressing the media. So, who is the new RBI Governor? As we wait for the MPC decision, here’s all you need to know about the man of the moment – RBI Governor Sanjay Malhotra.

• Sanjay Malhotra was appointed as the Governor of Reserve Bank of India on December 11, 2024 for the period of three years.
• At the time of appointment, Malhotra was serving as the Revenue Secretary in the Government of India. Malhotra is an IAS officer from the Rajasthan Cadre of 1990 batch.
• A career bureaucrat with over three decades of experience, Malhotra has worked in various capacities in sectors such as mines, power, taxation and information and technology.
• Malhotra completed his engineering from IIT-Kanpur in 1989, where he studied Computer Science. Later, he went on to study Public Policy from the Princeton University.
• In his stint as the Revenue Secretary, Malhotra is often credited for boosting the Centre’s revenues after the unprecedented decline due to coronavirus pandemic. Malhotra devised the plans to widen the tax net that helped in higher formalisation of the Indian economy.

Analysts at Goldman Sachs have predicted that the central bank will slash the repo rate by 25 basis points. The international financial firm says that the repo rate cut is needed in wake of the increased global volatilities. On the Rupee fall, Goldman Sachs India Economist Santanu Sengupta believes that it is 'necessary macroeconomic correction.'