The Finance Ministry has invited applications for the post of Chairperson of the Insurance Regulatory and Development Authority of India (IRDAI) as the current chairperson, Debasish Panda, is set to complete his term on March 13, 2025. The deadline for submitting applications is April 6, 2025.
Panda, who previously served as Secretary in the Department of Financial Services under the Finance Ministry, assumed the role of IRDAI Chairman on March 14, 2022, for a three-year term.
According to the advertisement issued by the IRDAI, applicants for the position should ideally have at least 30 years of relevant experience. Candidates should have held positions such as Secretary to the Government of India, or its equivalent, or served at a similar level in state governments or other institutions.
A proven track record of leadership and decision-making authority is also required.
For applicants from the private sector, a background as a CEO or equivalent of a large financial institution is necessary.
Additionally, applicant's age should not exceed 63 years on that date.
The IRDAI Chairperson is entitled to a consolidated salary of Rs 5.62 lakh per month, with no additional benefits such as housing or a car.
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