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Ajay Seth Appointed as New IRDAI Chairman for 3 Years by ACC.

Appointment | Dated: 25 Jul 2025

The Government of India has appointed former Finance Secretary Ajay Seth as the new Chairman of the Insurance Regulatory and Development Authority of India (IRDAI) for a tenure of three years, effective from July 24, 2025. This appointment was approved by the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi.

🎯 Key Highlights:

  • - Ajay Seth's appointment fills the top vacancy created in March 2025 following the completion of the term of Debasish Panda, the former IRDAI Chairman. As per norms, the tenure will continue for three years or until Mr. Seth attains the age of 65, whichever is earlier. The appointment reinforces the government's focus on experienced leadership in the insurance regulation sector.
  • - The selection was made based on recommendations from the Financial Sector Regulatory Appointments Search Committee (FSRASC), led by the Cabinet Secretary.
  • - This committee is responsible for shortlisting competent candidates for key regulatory positions in India's financial sector. The final decision was taken by the ACC upon FSRASC’s submission.

💡 Other Important Facts:

  • (i) Ajay Seth is a 1987-batch Indian Administrative Service (IAS) officer from the Karnataka cadre. He brings over three decades of experience in finance, infrastructure, and regulatory policy. Prior to this role, he served as Secretary of the Department of Economic Affairs (DEA) under the Ministry of Finance from 2021 to June 2025.
  • (ii) In addition to his DEA role, Seth was appointed as Revenue Secretary in March 2025 after Tuhin Kanta Pandey demitted office. He was also part of the high-level panel that dealt with financial market regulation and held responsibilities overlapping with SEBI and other regulators.
  • (iii) Ajay Seth's profile includes notable experience in public finance, urban development, and public-private partnerships (PPP). He has also worked closely with multilateral institutions like the Asian Development Bank (ADB) and World Bank. His contributions were recognized with the Prime Minister’s Award for Excellence in Public Administration in 2013.

📚 Test Your Knowledge:

Who has been recently appointed as the new Chairman of IRDAI for a three-year term?

Correct Answer: Ajay Seth

🚀 Quick Recap:

About Insurance Regulatory and Development Authority of India (IRDAI)

  • Chairperson: Ajay Seth
  • Headquarter : Hyderabad