Sanjay Malhotra takes charge as RBI Governor: Know his salary, perks, education qualifications and more

Sanjay Malhotra who is the current Revenue Secretary, has been appointed as the new Governor of the Reserve Bank of India (RBI). He will take over from the current Governor, Shaktikanta Das, whose term ends on December 10. Malhotra, an Indian Administrative Service (IAS) officer of the 1990 Rajasthan cadre, has been given a tenure of three years in this prestigious role. Since its establishment in 1935, the RBI has seen 25 Governors lead the institution.

Compensation and Benefits of an RBI Governor

As the new RBI Governor, Malhotra will receive a salary of Rs 2.5 lakh per month, similar to his predecessor Shaktikanta Das. It is worth noting that this salary is on par with what a government secretary earns. However, the Governor also enjoys a range of other benefits, including a government-provided house, an official car, medical services, and a pension. The official residence provided to the RBI Governor is a luxurious property located in Malabar Hill, Mumbai, one of the city's most affluent areas.

In an interesting anecdote shared by former RBI Governor Raghuram Rajan during a podcast, he mentioned that the Governor's house in Malabar Hill could fetch a value of ₹450 crore if sold. This highlights the exclusivity and significance of the position.

Sanjay Malhotra’s Background and Achievements

Sanjay Malhotra brings a strong academic and professional background to his new role. He holds a degree in computer science engineering from IIT Kanpur and a postgraduate degree in public policy from Princeton University in the United States. Over his 30-year career, he has worked in diverse sectors, including finance, taxation, IT, power, and mining. As the ex-officio secretary of the GST Council, Malhotra has played a crucial role in boosting tax revenues for the government, showcasing his expertise in financial matters.

With this appointment, Malhotra’s leadership is expected to contribute significantly to India’s economic and financial landscape.

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