Govt Appoints Former Finance Secretary Ajay Seth As IRDAI Chief
Mumbai: After a four -month delay, the government announced on Thursday that the former Ministry of Finance and Economic Affairs Secretary Ajay Seth was appointed as the President of the Indian Insurance Regulatory and Development Authority (IRDAI). The position of Debasish Panda’s term of office has been empty since the end of March 13, 2025.
Seth takes responsibility at a time when the insurance sector is ready for a major revision. The government is expected to bring the bill of insurance laws (amendments) in the next monsoment session, which proposes to increase the foreign direct investment limit to 100 percent and to bring a number of other changes in composite licenses and insurance law.
Nilesh Sathe, former member Iradai, “Mr. Seth will face three difficulties. First, the existing insurance law should make changes, a proposed insurance change should ensure the fragmentation of arrangements. to reduce the GST in the policies.
The Cabinet Appointment Committee (ACC) said Seth was appointed for three years or to the age of 65 or before or before.
Seth, who was a 1987 collective IAS officer of Karnataka squad, played several important roles in the Ministry of Finance. Since 2021, he has served as a dea secretary and after his appointment as the president of Tuhin Kanta Pandey, he filed additional wages as a revenue -to -General earlier this year.
A mechanical engineer with MBA has held critical roles between the state and central governments.
