https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

Finance Ministry Invites Applications for IRDAI Chairperson Post

Applicants for the position should ideally have at least 30 years of relevant experience
Indian Masterminds Stories

The Finance Ministry has announced an invitation for applications to fill the position of Chairperson of the Insurance Regulatory and Development Authority of India (IRDAI), as the current chairperson, Mr. Debasish Panda, is set to complete his term on March 13, 2025. The deadline for submitting applications is April 6, 2025.

Also Read: Himachal Signs Rs 1,400 Cr Pact for API, Green Hydrogen & Ethanol Facility

Mr. 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, applicants must have at least two years of residual service remaining as of the vacancy date, and their age should not exceed 63 years on that date.

The notification further clarified that, according to the Insurance Regulatory and Development Authority Act of 1999, no individual can hold the position of Chairperson after reaching the age of 65.

Regarding remuneration, 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.

The Government reserves the right to cancel or withdraw the selection and appointment process at any stage, without providing reasons, should administrative exigencies arise. The appointment will be made by the Central Government following the recommendation of the Financial Sector Regulatory Appointment Search Committee. The committee may also choose to recommend any individual, based on merit, who has not applied. In exceptional cases, the committee can recommend relaxation of eligibility criteria for outstanding candidates.

Also Read: Ministry of Law & Justice Commemorates the Life and Contributions of the Women Members of the Constituent Assembly by Releasing a Book on IWD


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
Airports Authority of India AAI
PESB Finds Candidates Unsatisfactory for AAI Member (Operations) Post, Calls for New Selection Process
justice-photo
Next CJI of India: Find Out Who’s Set to Become the New Chief Justice – Full Story Inside
IPS Ratan Lal Dangi
Who Is IPS Ratan Lal Dangi? Chhattisgarh Police Officer Accused of Harassment by SI’s Wife; IG Anand Chhabra Assigned Probe - Full Story
Yogi Adityanath Ayodhya visit in Diwali
UP: CM Yogi Adityanath Orders Fire Stations Every 100 Km on Expressways, Approves 1,020 New Posts in Fire Services
SDM Chhotu Lal Sharma
Who Is SDM Chhotu Lal Sharma? The 2015-Batch RAS Officer Caught in Yet Another Scandal After Slapping Petrol Pump Employee
Solar Panels
CERC Proposes Buyout Price Mechanism to Ensure Compliance with Renewable Consumption Obligations
Ministry of New and Renewable Energy MNRE
MNRE Invites Creative Minds to Design Official Logo for National Green Hydrogen Mission
RBI
RBI Proposes Mandatory Unique Transaction Identifier for OTC Derivative Trades from April 2026
ADVERTISEMENT
ADVERTISEMENT
Videos
WhatsApp Image 2025-10-19 at 12.23
UPSC Journey Should Be Enjoyable, Not Cumbersome
WhatsApp Image 2025-10-16 at 15.16
The Many Facets of Former IRS Officer and Author, Giselle Mehta | Video Interview
IDES Saquib Alam
Beyond IAS and IPS: The Inspiring Work of an IDES officer | Video Interview 
ADVERTISEMENT
UPSC Stories
IAS Rupal Rana UPSC
How Rupal Rana Cracked UPSC CSE 2023 with AIR 26 After Four Attempts
UPSC Topper Rupal Rana secured AIR 26 in 2023 after four attempts. Learn her preparation strategy, booklist,...
Ankita Parashar RAS 2023
4 Attempts, 1 Dream, 0 Excuses: Meet RAS Topper Ankita Parashar, Who Fulfilled a Daughter’s Promise & Secured Rank 2 | Exclusive Interview
Ankita Parashar, a teacher-turned-officer from Pushkar, fulfilled her late father’s dream by securing...
Kushal Chaudhary RAS
From Lab Assistant’s Grit to Rajasthan Topper: How Kushal Chaudhary Topped RAS 2023 with Self-Study | Preparation, Strategy & Interview
Kushal Chaudhary, a farmer’s son and lab assistant from Ajmer, topped RAS 2023 through self-study, overcoming...
Social Media
IFS Parveen Kaswan
Heartbreak by the River: 15-Day-Old Elephant Calf Rejected by Mother, Rescued by IFS Parveen Kaswan and His Team
Jaldapra, West Bengal: In a moving incident that tugs at the heart, a 15-day-old elephant calf was rescued...
Ashwini Bhide IAS and Anand Mahindra
Who Is IAS Ashwini Bhide, Hailed as a Role Model for Mumbai Metro Transformation by Anand Mahindra?
From heritage to high-tech: Bhide’s leadership in Metro Line 3 earns public praise and admiration
World Rhino Day India
On World Rhino Day, IFS Officer Parveen Kaswan Shares Rare Insights - India Now Hosts 80% of the World’s One-Horned Rhinos
September 22 Marks Global Call for Rhino Conservation; India Holds 80% of World’s Greater One-Horned...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
Airports Authority of India AAI
PESB Finds Candidates Unsatisfactory for AAI Member (Operations) Post, Calls for New Selection Process
justice-photo
Next CJI of India: Find Out Who’s Set to Become the New Chief Justice – Full Story Inside
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
WhatsApp Image 2025-10-19 at 12.23
WhatsApp Image 2025-10-16 at 15.16
IDES Saquib Alam
ADVERTISEMENT
ADVERTISEMENT