Revenue Secretary Sanjay Malhotra next RBI Governor + UPSC?.ToString()?? UPSC?.ToString()+" Current Affairs";

Why in the news?
Sanjay Malhotra, a 1990-batch Indian Administrative Service officer, currently Revenue Secretary in the Ministry of Finance, has been appointed as the next Governor of the Reserve Bank of India (RBI). Succeeding Shaktikanta Das.
Key Takeaways:
📍The Appointments Committee of the Cabinet on Monday gave its nod for the selection of the 56-year-old Malhotra as the 26th RBI Governor with effect from December 11 for a period of three years.
📍The six-year term of current RBI Governor Shaktikanta Das is slated to end on December 10.
📍Malhotra faces challenges like balancing inflation control with economic growth and managing the rupee’s depreciation amid global dollar strength. 
📍His tenure starts on December 11, 2024, for three years. A former Secretary in the Department of Financial Services, Malhotra is credited for steering LIC’s record ₹21,000 crore IPO and advancing public sector banking reforms. 
📍Known as a “pro-reformist,” he combines technical expertise from IIT Kanpur and Princeton University with a deep understanding of fiscal and monetary policies.
About Sanjay Malhotra:
Malhotra, a 1990-batch Indian Administrative Service (IAS) officer of Rajasthan cadre, is an IIT Kanpur alumnus. Prior to assuming the charge of revenue secretary, he was the financial services secretary in the department of financial services (DFS). The government on October 19, 2022 appointed him as the officer on special duty (OSD) in the revenue department to take over the position from incumbent Tarun Bajaj who was scheduled to retire on November 30.
Malhotra took over as revenue secretary on December 1, 2022. , with a long tenure in hand (up to February 29, 2028).
Prior to joining DFS – an arm of the Union finance ministry -- on February 8, 2022, Malhotra was chairman and managing director of REC Ltd. He is an engineering graduate in computer science from IIT, Kanpur and has a master’s degree in public policy from Princeton University, according to the Reserve Bank of India’s website. Malhotra was one of the directors in RBI’s Central Board as DFS secretary.
How is the RBI Governor appointed?
The governor is appointed as the the RBI Act, 1934. The law states that the chief is appointed by the Central government.
The Financial Sector Regulatory Appointment Search Committee, consisting Cabinet Secretary, current RBI Governor, Financial Services Secretary and two independent members, prepares a list of people eligible to hold the post.
Next, the shortlisted candidates are interviewed and sent to the Cabinet Committee on Appointments, which is headed by the Prime Minister. The committee selects the governor through confirmation of the appointment. The
The governor holds office for periods not exceeding five years. The term of the governor may be fixed by the government at the time of his appointment. The central bank chief is is eligible for reappointment or extension.
RBI Governor qualifications:
The RBI Act, 1934 does not mention any specific qualification for the governor. People with different educational backgrounds were selected to head the institution.
However, the governor traditionally is either a civil services personnel or an economists.

IN SHORT:
The Appointments Committee of the Cabinet on Monday gave its nod for the selection of the 56-year-old Sanjay Malhotra as the 26th RBI Governor with effect from December 11 for a period of three years.
The six-year term of current RBI Governor Shaktikanta Das is slated to end on December 10.

Useful information for all competitive exams:
Reserve Bank of India:
Headquarters: Mumbai, Maharashtra
Established: 1 April 1935
Inaugural holder: Sir Osborne Smith
Governor (26th): Sanjay Malhotra
Deputy Governors: M. Rajeshwar Rao, Swaminathan J, T. Rabi Sankar, Dr. M.D. Patra
Sir C. D. Deshmukh(3rd): He was the first Indian to serve as the governor.
List of Governors:
1. Sir Osborne Smith
2. Sir James Taylor
3. Sir C D Deshmukh
4. Sir Benegal Rama Rau
5. K G Ambegaonkar
6. H V R Iengar
7. P C Bhattacharya
8. L K Jha
9. B N Adarkar
10. S Jagannathan
11. N C Sen Gupta
12. K R Puri
13. M Narasimham
14. Dr. I G Patel
15. Dr. Manmohan Singh
16. A Ghosh
17. R N Malhotra
18. S Venkitaramanan
19. Dr. C Rangarajan
20. Dr. Bimal Jalan
21. Dr. Y V Reddy
22. D. Subbarao
23. Raghuram Rajan
24. Urjit Patel
25. Shaktikanta Das
26. Sanjay Malhotra