Sanjay Malhotra To Join Central Board of Reserve Bank of India as the Director

The central government has nominated Sanjay Malhotra, Secretary, Department of Financial Services as Director on the Central Board of Reserve Bank of India (RBI).

He has succeeded Debashish Panda and is a 1990 batch IAS officer of the Rajasthan cadre. Previously he was Chairman and Managing Director of REC Ltd.

Malhotra has an exhaustive power sector experience.

The reforms-based result-linked power distribution sector scheme to be applicable till 2025-26 aims to reduce India’s AT&C loss to 12-15 per cent and gradually narrow the deficit between the cost of electricity and the price at which it is supplied to ‘zero’ by 2024-25