Sanjay Malhotra has been named as Secretary in the Department of Financial Services in the Ministry of Finance. He is a 1990 batch IAS officer of the Rajasthan cadre. Before this, Sanjay Malhotra was Chairman and Managing Director of REC Ltd. He has succeeded Debashish Panda, who completed his term as DFS Secretary on January 31, 2022.
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% and gradually narrow the deficit between the cost of electricity and the price at which it is supplied to ‘zero’ by 2024-25.