Malhotra’s s appointment as the Financial Services Secretary has taken effect immediately as the post is vacant after Debasis Panda,retired from the post on 31st Jan. The government had given Rajesh Verma, secretary, ministry of corporate affairs the additional charge of DFS after Panda

New Delhi:

The government has appointed Sanjay Malhotra, lAS, 54,CMD, REC Ltd, as Secretary, Department of Financial Services(DFS), Ministry of Finance on Tuesday.

Malhotra’s s appointment as the Financial Services Secretary has taken effect immediately as the post is vacant after Debasis Panda,retired from the post on 31st Jan. The government had given Rajesh Verma, secretary, ministry of corporate affairs the additional charge of DFS after Panda retired.

Malhotra is a 1990 batch IAS officer of Rajasthan cadre.

He took over as CMD of state-run REC Limited, one of India’s largest power sector lenders, in November 2020.

He was earlier posted as Additional Secretary in the Union Power Ministry. REC and state-run Power Finance Corporation are the nodal agencies to implement the marquee 3.03 trillion electricity discom reform scheme.