Finance Ministry appoints K. Rajaraman, IAS as new Chairperson of IFSCA [Read Notification]
Finance Ministry appoints new Chairperson – Finance Ministry – IAS – new Chairperson – Chairperson – IFSCA – taxscan
Finance Ministry appoints new Chairperson – Finance Ministry – IAS – new Chairperson – Chairperson – IFSCA – taxscan
The Central Government has appointed Rajaraman, IAS as a new chairperson of International Financial Services Centres Authority (IFSCA) for a period of 03 years w.e.f. the date of assumption of charge of the post, or till attaining the age of 65 years, or until further orders, whichever is the earliest.
As per the notification no. S.O. 2993(E). Published on 7th July 2023, states that “ln exercise of the powers conferred by section 5(1) of International Financial Services Centres Authority Act, 2019 (No. 50 of 2019) read with International Financial Services Centres Authority (Salary, Allowances and other Terms and Conditions of Service of Chairperson and Members) Rules 2020 the Central Government hereby appoints Shri K. Rajaraman, IAS (TN: 1989) to the post of the Chairperson, International Financial Services Centres Authority (IFSCA) for a period of 03 years w.e.f. the date of assumption of charge of the post, or till attaining the age of 65 years, or until further orders, whichever is the earliest.”
Back in 2021, K. Rajaraman IAS, a 1989 batch took over as the new telecom secretary, replacing Anshu Prakash. And now he has been appointed as the new chairperson of IFSCA.
IFSCA is a regulatory body established in India with the aim of developing and regulating financial services provided in International Financial Services Centres (IFSCs). It operates under the International Financial Services Centres Authority Act, 2019.
IFSCA's main responsibility is to supervise and control financial activity in IFSCs, which are special locations created to offer top-notch financial services to both domestic and foreign firms.
It has the power to control a range of financial services, including those offered inside IFSCs, including banking, insurance, securities markets, and other financial products and services. Additionally, it is in charge of creating and enforcing rules, releasing directives, approving applications, and guaranteeing adherence to global norms and best practices.
To Read the full text of the Order CLICK HERE
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