Persons in News

 Persons in News

RBI Governor Sanjay Malhotra said that with geopolitical tensions, the impact of climate change and political uncertainties around the world, the situation is constantly changing. (Reuters)

Sanjay Malhotra

— Sanjay Malhotra has been appointed as the new Reserve Bank of India’s (RBI) Governor, replacing Shaktikanta Das. He assumes charge as the 26th Governor of the RBI.

— The Reserve Bank of India (RBI) Governor is appointed in accordance with the RBI Act, 1934, which specifies that the Governor is selected by the Central government.

— The Financial Sector Regulatory Appointment Search Committee, comprising the Cabinet Secretary, the current RBI Governor, the Financial Services Secretary, and two independent members, prepares a list of eligible candidates for the position.

— The shortlisted candidates are interviewed, and their names are forwarded to the Cabinet Committee on Appointments, chaired by the Prime Minister. The committee finalizes the selection by confirming the appointment.

— The Governor’s tenure is limited to a maximum of five years, with the duration determined by the government at the time of appointment. The RBI Governor is also eligible for reappointment or an extension of their term.