(THE NEWSMAN OF INDIA.COM)
In a significant development, the Government of India has initiated the process to appoint a new Chairperson for the Insurance Regulatory and Development Authority of India (IRDAI), as the tenure of the current Chairman, Debasish Panda, concludes on March 13, 2025. The Finance Ministry has issued a notification inviting applications for the position, with submissions due by April 6, 2025.

The selected candidate will serve a three-year term based in Hyderabad, where IRDAI is headquartered, with a monthly remuneration of ₹5.62 lakh, excluding housing and car facilities.

While the government has not officially disclosed potential candidates, several prominent figures are speculated to be in consideration for the role. These include Giridhar Aramane, former Defense Secretary; Ajay Seth, Secretary of the Department of Economic Affairs; Pankaj Jain, Secretary of the Ministry of Petroleum; and Debasish Panda, the incumbent Chairman, who may be considered for reappointment.

This move aligns with recent governmental actions, such as the appointment of new Governors at the Reserve Bank of India (RBI) and Chairpersons of the Securities and Exchange Board of India (SEBI), reflecting a broader strategy to refresh leadership across key financial regulatory bodies.