In a significant move, the Government of India has appointed Sanjay Malhotra, the current Revenue Secretary, as the next Governor of the Reserve Bank of India (RBI). As per a notification issued by the Department of Personnel and Training (DPoT), Malhotra will take on the prestigious role for a period of three years.
RBI governor
Breaking News – Urjit Patel Resigns as RBI Governor
Breaking News – Urjit Patel Resigns as RBI Governor
Reserve Bank of India (RBI) governor Urjit Patel on Monday resigned from the post citing personal reasons. “On account of personal reasons, I have decided to step down from my current position effective immediately.
Urjit Patel May Resign LIVE Updates: Section 7 of RBI Act Has Not been Invoked
Sources in the ministry of finance told Firstpost that Section 7 of the RBI Act has not been invoked. However, two letters were sent to RBI last month in which “Section 7 was quoted”, highlighting the existence of powers under the Act that allows the government to issue directions to the central bank on “matters of public interest”.