Former Finance Secretary Ajay Seth. File
The federal government on Thursday (July 24, 2025) Appointed Former Finance and Financial Affairs Secretary AJAY AJAY SETH SH SHETH S Chairman of the Insurance coverage Regulatory and Growth Authority of India (Irdai).
The appointments committee of the cupboard has appointed Sth’s appointment as Chairperson of the insurance coverage regulator for a interval of three years or until the incumbent attains the age of 65 years or UNTIL FURUTIR Orders, whichever is the earliest, a authorities notification mentioned.
Mr. Seth, A 1987-Batch IAS Officer of the Karnataka Cadre, Retired as Financial Affairs Secretary in June this Yr after a 4-Yr Stint.
The appointment of the Irdai Chairman Comes Almost 4 Months after the Emptiness was created following Debasish Panda Finishing His Time period in March this 12 months.
As per the process for the appointment of regulators, the identify is usually recommended by the monetary sector regulatory appointments search commissioner (FSRASC) Headed by the Cupboard Secretary.
Primarily based on Interplay with Eligible Candidates, FSRASC recommends the identify to the appointments committee of the cupboard, headed by Prime Minister Narendra Modi, for ITS FINAL SPROVAL.
Irdai is entrusted with the duty of defending the curiosity of insurance coverage policyholders and brings about speedy and Orderly Development of the Insurance coverage Trade (Together with Annuity and Supremement Factors) Advantage of the Frequent Man and to Present long run funds for accelerating progress of the economic system.
It additionally helps promote equity, transparency and orderly idea in monetary markets coping with insurance coverage and constructing a dependable administration info system to get pleasure from Soundness Amongst Market Gamers.
Printed – July 24, 2025 03:53 pm IST
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