Sanjay Malhotra, the Revenue Secretary, has been designated as the new RBI Governor. Malhotra will take over from the existing RBI Governor Shaktikanta Das. Shaktikanta Das’ tenure concludes on 10 December. Malhotra, an IAS officer from the 1990 Rajasthan cadre, has been assigned for a duration of 3 years. Since its inception in 1935, the Reserve Bank of India has seen a total of 25 governors assume leadership.
Discussing the compensation of the RBI Governor, the newly appointed Sanjay Malhotra will receive a salary of Rs 2.5 lakh. It is important to mention that this salary constitutes just a portion of the overall compensation received by the Governor. In addition to the salary, the RBI Governor receives various other benefits such as free housing, a car, medical services, and a pension from the Government of India. In the previous financial year, Shaktikanta Das earned a monthly salary of Rs 2.5 lakh. Urjit Patel, the RBI Governor prior to Shaktikanta Das, received the same monthly income. This pay matches the salary of a government secretary.
Rs 450 crore house!
The benefit of being RBI Governor is the residence. A spacious house in Malabar Hill, Mumbai. In a conversation with YouTuber Raj Shamani on the Figuring Out podcast, former governor Raghuram Rajan mentioned that at one point he performed a calculation. If we put our house up for sale, we will receive Rs 450 crore.
He has been a key factor in the recent increase in tax revenue
Sanjay Malhotra earned a computer science engineering degree from IIT Kanpur. Subsequently, he completed a post-graduate degree in public policy at Princeton University in the United States. Over the past 30 years, Malhotra has worked in sectors such as power, finance, taxation, IT, and mining. Sanjay Malhotra serves as the ex-officio secretary of the GST Council. He has been a key factor in the recent increase in tax revenue.