Ajay seth news in hindi: The Modi government on Thursday appointed Ajay Seth, former Secretary, Finance and Economic Affairs Department, the Chairman of the Insurance Regulatory and Development Authority of India (IRDA). Seth, a 1987 batch IAS officer of Karnataka cadre, retired from the post of Economic Affairs Secretary in June this year after a 4 -year term.
Seth was serving as DEA Secretary since 2021. During this, he played an important role in strengthening the country’s economic policies. In March 2025, the government also assigned him additional charge of Revenue Secretary when Tuhin Kanta Pandey was made the chairperson of SEBI. Seth has also worked with the Government of India, the Government of Karnataka and the Asian Development Bank.
A government notification stated that the appointment committee of the Cabinet has approved Seth’s appointment as the insurance regulator’s appointment until a duration of 3 years or until the age of 65 years or until further order, whichever is earlier.
How is the appointment of IRDA chairman: Debashish Panda has been appointed as the chairman of IRDA after the completion of his term in March this year. According to the process of appointment of regulators, the Financial Sector Regulatory Recruitment Search Committee (FSRASC) headed by the Cabinet Secretary suggests.
Based on a conversation with the eligible candidates, the committee recommends the name to the appointment committee of the cabinet headed by Prime Minister Narendra Modi for final approval.
What is the work of IRDA: IRDA has been tasked to protect the interests of insurance policy holders and to provide long -term funds to rapid and systematic development of the insurance industry for the benefit of the common people and to speed up the growth of the economy. It also helps in promoting fairness, transparency and systematic conduct in insurance -related financial markets and creates a reliable management information system to implement high standards of financial strength among the market participants.
Edited by: Nrapendra Gupta
