New Delhi: The government appointed former Minister of Finance and Economic Affairs Ajay Seth as chairman of the Indian Regulatory and Development Office of Insurance (Irdai) on Thursday.
With Seth’s appointment, three regulatory bodies of the APEX financial sector – India Reserve Bank of India (RBI), the Indian Securities and Exchange Council (Sebi) and Irdai – now have the highest officials of the Ministry of Finance as their heads.
In December, the government appointed the then secretary of the income of Sanjay Malhotra as Governor RBI and later in February announced the Minister of Finance and Income Tuhin Kant Pandey for the new chairman of Sebi.
“The Cabinet (ACC) Committee (ACC) approved the approved AJay Seth, IAS (Kn: 1987) (Retd.), Former Minister of Finance and Secretary, Ministry of Economic Affairs, President, Regulatory and Development Office in India (Irdai) for three years or until 65 years old. It is the most serious, most of which is the most serious, which is most, “which is the most subject” which is the most subject, and what is most. The announcement was said.
Seth, 1987-shair Ias officer Kadrataka, left as a secretary of economic affairs in June this year after a four-year stint. Since 2021 he worked as the Secretary of Dea and briefly held the surcharge as a secretary of income at the beginning of this year after Tuhin Kanta Pandey was appointed chairman of Sebi.
He joined the insurance sector regulator after a gap of four months since the position was released by the Debasish Panda, which completed its term of office in March this year.
Like another regulatory body of the financial sector, the chairman of Irdai is appointed ACC, who is headed by the Prime Minister and has home ministers and finance like other members.
Irdai oversees the proper development of the insurance sector, protects the interest of policy holders, prevents incorrect sales of insurance products, creates reliable management information systems, and also provides long -term infrastructure industries that ensure accelerated economic growth.
The regulator is also entrusted with the implementation of the government insurance program for all until 2047.
Seth’s appointment, mechanical engineer with MBA, comes at a time when Irdai deals with the issue of cyber threats for financial markets and strengthening regulations to reduce fraud and incorrect sales.
As Minister Dea Seth, he was helpful in shaping politicians related to economic growth, fiscal management, infrastructure financing and digital payments.
Seth has over 33 years of experience in public service. As a Ministry of Finance, the G20 Indian Presidency was returned two years ago by a financing officer.
During his term of office, Seth supervised Seth’s first Indian problem with the ruler of green bonds and set up the infrastructure financial secretariat, which plans long -term financing of key projects.
(Tagstotranslate) former Finance Minister Ajay Seth
