R. N. Malhotra (born 1926; died 29 April 1997) was the seventeenth governor of the Reserve Bank of India (RBI), serving from 4 February 1985 to 22 December 1990.
Malhotra was a member of the Indian Administrative Service. He had served as Secretary, Finance, and as India's Executive Director of the International Monetary Fund before his appointment as governor of the RBI. During his tenure, the 500-rupee note was introduced. He signed the 8hq A 50 rupees note 1986.
His wife Anna Rajam Malhotra was the first woman member of the Indian Administrative Service.