July 3, 2022

Former finance secretary Debasish Panda on Monday took rate as the brand new chairman of the Insurance coverage Regulatory and Construction Authority of India (Irdai).

The appointment of the Irdai chairman comes just about 9 months after the emptiness used to be created following Subhash Chandra Khuntia finishing his time period in Might final yr.

”Debasish Panda, IAS (Retd), has taken rate as chairman of Insurance coverage Regulatory and Construction Authority of India as of late, the March 14, 2022,” Irdai stated in a commentary.

Remaining Friday, the federal government had introduced to nominate the previous bureaucrat because the chairman of the insurance coverage sector regulator for a length of 3 years from the belief of rate.

Panda, a 1987-batch IAS officer of the Uttar Pradesh cadre, retired as monetary services and products secretary in January this yr after a two-year stint.

In April 2021, the finance ministry had invited packages to switch Khuntia.

But even so, the federal government final week additionally appointed Rakesh Joshi, former govt vice-president and workforce 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 services and products secretary, Panda served as an extra secretary having a look after insurance coverage and fiscal inclusion department.

He used to be additionally the federal government nominee director at the board of Irdai and served at the forums of a few public sector banks and insurance coverage corporations. He used to be additionally at the board of the Reserve Financial institution of India (RBI).

See also  Bhopal: Prajapita Bramhakumari Ishwariya Visvavidyalay to carry nationwide media meet on Sunday

Right through his stint in Uttar Pradesh, he used to be most important secretary (house 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 Circle of relatives Welfare and deputy director (management), All India Institute of Clinical Sciences (AIIMS), New Delhi.

The Irdai is entrusted with the duty of defending the pastime of insurance coverage policyholders and bringing about rapid and orderly enlargement of the insurance coverage trade.

(With inputs from PTI)

(To obtain our E-paper on whatsapp day by day, please click on right here. We allow sharing of the paper’s PDF on WhatsApp and different social media platforms.)

Revealed on: Monday, March 14, 2022, 06:31 PM IST