Ajay Seth Appointed as New IRDAI Chairman
Ajay Seth, former Finance and Economic Affairs Secretary, has been appointed as chairman of the Insurance Regulatory and Development Authority of India. Seth, a retired 1987-batch IAS officer, takes over, filling the vacancy left by Debasish Panda. The appointment was approved by the Appointments Committee of the Cabinet.
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- India
In a significant move, the government has appointed Ajay Seth as the new chairman of the Insurance Regulatory and Development Authority of India (IRDAI). Seth, who previously served as the Finance and Economic Affairs Secretary, fills the position left vacant after Debasish Panda's term ended in March.
The Appointments Committee of the Cabinet has greenlit Seth's appointment for a tenure of three years, or until he reaches the age of 65. His selection follows recommendations by the Financial Sector Regulatory Appointments Search Committee, overseen by the Cabinet Secretary.
IRDAI plays a crucial role in safeguarding insurance policyholders' interests while ensuring rapid growth of the insurance industry. With Seth at the helm, the focus will be on promoting fairness, transparency, and a robust management system within the financial markets handling insurance.
(With inputs from agencies.)
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