Former finance secretary Debasish Panda on Monday took cost as the brand new chairman of the Insurance coverage Regulatory and Growth Authority of India (Irdai).
The appointment of the Irdai chairman comes almost 9 months after the emptiness was created following Subhash Chandra Khuntia finishing his time period in Could final 12 months.
“Debasish Panda, IAS (Retd), has taken cost as chairman of Insurance coverage Regulatory and Growth Authority of India right now, the March 14, 2022,” Irdai stated in a press release.
Final Friday, the federal government had introduced to nominate the previous bureaucrat because the chairman of the insurance coverage sector regulator for a interval of three years from the idea of cost.
Panda, a 1987-batch IAS officer of the Uttar Pradesh cadre, retired as monetary companies secretary in January this 12 months after a two-year stint.
In April 2021, the finance ministry had invited purposes to interchange Khuntia.
In addition to, the federal government final week additionally appointed Rakesh Joshi, former government vice-president and group head (debt capital markets) of State Financial institution of India Capital Markets, as whole-time member (finance and funding) of Irdai.
Previous to elevation because the monetary companies secretary, Panda served as a further secretary taking care of insurance coverage and monetary inclusion division.
He was additionally the federal government nominee director on the board of Irdai and served on the boards of some public sector banks and insurance coverage firms. He was additionally on the board of the Reserve Financial institution of India (RBI).
Throughout his stint in Uttar Pradesh, he was principal secretary (dwelling and agriculture and cooperation), resident commissioner and CEO of Better Noida Authority.
Panda additionally served as joint secretary within the Ministry of Well being and Household Welfare and deputy director (administration), All India Institute of Medical Sciences (AIIMS), New Delhi.
The Irdai is entrusted with the duty of defending the curiosity of insurance coverage policyholders and bringing about speedy and orderly progress of the insurance coverage business.
(Solely the headline and movie of this report could have been reworked by the Enterprise Customary workers; the remainder of the content material is auto-generated from a syndicated feed.)
Pricey Reader,
Enterprise Customary has at all times strived laborious to offer up-to-date info and commentary on developments which can be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on tips on how to enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these tough occasions arising out of Covid-19, we proceed to stay dedicated to conserving you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.
We, nevertheless, have a request.
As we battle the financial influence of the pandemic, we’d like your assist much more, in order that we will proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from lots of you, who’ve subscribed to our on-line content material. Extra subscription to our on-line content material can solely assist us obtain the objectives of providing you even higher and extra related content material. We imagine in free, truthful and credible journalism. Your assist by way of extra subscriptions might help us practise the journalism to which we’re dedicated.
Help high quality journalism and subscribe to Enterprise Customary.
Digital Editor