Princeton-educated, consensus builder Sanjay Malhotra appointed new RBI Guv

A computer science engineer and master's in public policy from Princeton University, Sanjay Malhotra, the new Governor of the Reserve Bank of India (RBI), is a known consensus builder and the person instrumental in the implementation of the new income tax regime. Malhotra, 56, is currently the Revenue Secretary in the Ministry of Finance and will succeed Shaktikanta Das, whose second three-year term comes to an end on December 10. Malhotra, who has more than three decades of experience in public policy with expertise in areas like power, finance and taxation, takes guard at the central bank at a time when the economy is faced with the dual challenge of slowing growth rate and high inflation rate. While Das kept benchmark interest rates unchanged for almost two years in a bid to control inflation, the incoming Governor is said to be a team player who believes prices cannot be managed by the central bank alone and the task needs government help as well. He takes over as the 26th ...