The Ministry of Finance (MoF) has notified the appointment of Injethi Srinivas, IAS as the 1st Chairman of International Financial Services Centres Authority (IFSCA). IFSCA is a unified body to regulate all financial services in International Financial Services Centres (IFSCs) in the country and its headquarters is at Gandhinagar, Gujarat.
Injeti Srinivas has retired as the Secretary of the Ministry of Corporate Affairs on 31st May 2020 and has been appointed for a period of three years. He is currently secretary at the Department of Sports as well as Director-General of Sports Authority of India (SAI).
He is a graduate in Economics and has a Masters in Business Administration. Among other roles, he has served as the Director in the Ministry of Commerce & Industry, Chairman of Odisha State Financial Corporation, Chairman & MD, Infrastructure & Development Corporation of Odisha (IDCO), Capacity Development Advisor of UNDP. This move comes in the wake of efforts of the government to crack down shell companies to stop the flow of black money in the economy.