Sanjay Malhotra, who was recently appointed as DFS Secretary, on Thursday assumed charge of his new role.

He assumed charge on Thursday evening at Department Financial Services (DFS) office in capital, official sources said. 

Financial services Secretary is among the six powerful Secretaries of the Finance Ministry who have significant role in the management of the Indian economy. The entire banking system comes under the DFS Secretary. 

Prior to being appointed as DFS Secretary, Malhotra, a 1990 batch IAS officer of Rajasthan Cadre, was the Chairman and Managing Director of REC Ltd. 

He has succeeded Debashish Panda, who recently completed his term as DFS Secretary on January 31.

Prior to joining REC as CMD in November 2020, Malhotra was posted as an Additional Secretary in the Ministry of Power. 

Malhotra is an Engineering Graduate in Computer Science from the Indian Institute of Technology, Kanpur and has a Masters in Public Policy from the Princeton University. 

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