Former Finance Secretary Ajay Seth appointed new Chairman of IRDAI
| ➡️ Get instant news updates on Whatsapp. Click here to join our Whatsapp Group. |
Former Finance Secretary Ajay Seth has been appointed as the new Chairman of the Insurance Regulatory and Development Authority of India (IRDAI), the regulator for insurance sector. He will succeed Debasish Panda, whose term ended on March 13 this year.
The Appointment Committee of the Cabinet (ACC) said that Seth has been appointed for a term of three years or till he attains the age of 65 years or until further orders, whichever is earlier. A 1987-batch Indian Administrative Service officer of the Karnataka cadre, Seth joined the Ministry on May 1, 2021, and superannuated on June 30, 2025. Seth holds an MBA (Gold Medalist) and a degree in Mechanical Engineering.
About Ajay Seth
Ajay Seth, a 1987-batch IAS officer from the Karnataka cadre, has held several key roles in India’s economic administration. He has been serving as the Secretary of the Department of Economic Affairs (DEA) since 2021. In March this year, the government also gave him additional charge as Revenue Secretary, following the appointment of Tuhin Kanta Pandey as Chairperson of SEBI.
Seth has played a major role in shaping India’s economic policies, particularly in areas like fiscal management, infrastructure financing, economic growth, and digital payments. He was also the lead official handling the finance track during India’s G20 presidency, where he contributed significantly to global financial discussions and initiatives.
One of his notable achievements includes leading the issuance of India’s first sovereign green bond and establishing the Infrastructure Finance Secretariat to streamline funding for large-scale infrastructure projects.
With over 33 years of experience in public service, Seth has worked across various domains including public finance, tax policy, budgeting, foreign investment, public expenditure, and development financing. He has also been involved in social sector governance, especially in school education and health, as well as in urban transport and infrastructure development.
Seth has spent nearly 18 years working in the fields of public finance and taxation. Additionally, he has served around three years each in the social sector and urban infrastructure, holding roles in both the Government of India and the Government of Karnataka. He has also worked with the Asian Development Bank.
In recognition of his work, Seth was awarded the Prime Minister’s Award for Excellence in Public Administration in 2013 for successfully reforming Karnataka’s commercial tax system.
He holds degrees from the University of Roorkee (now IIT Roorkee) and Ateneo de Manila University in the Philippines.
