IRDAI gets new chairperson

The Appointments Committee of the Cabinet has approved the appointment of Debasish Panda IAS, former secretary, Department of Financial Services to the post of chairperson, Insurance Regulatory and Development Authority of India, according to a press statement from the Ministry of Personnel, Public Grievances and Pensions and the Secretariat of the Appointments Committee of the Cabinet. The term of the appointment is three years.

Panda has been on the boards of the New India Life Assurances and the Life Insurance Corporation. Panda had demitted office as the secretary of Department of Financial Services (DFS) in the Finance Ministry on January 31, 2021 after a two-year stint.

Panda’s appointment as IRDAI chairperson came 10 months after the post became vacant on May last year. The Centre had issued a notification inviting applications for the new chairman on April 30, 2021.