Kathmandu. It has been made mandatory to have at least 30 years of work experience to become the Chairman of the Insurance Regulatory and Development Authority of India (IRDAI).
The Ministry of Finance of India has issued a notification today inviting applications for the post of Chairman of IRDAI from today. In which the provision has been made that the work experience of the candidate for the Chairman should be at least 30 years. In addition, the criteria have also been set that the applicant should have previously worked as a Secretary in the Government of India or its equivalent and in a state government or other organization.
As mentioned in the notification, the candidate for the Chairman should also have decision-making authority and leadership ability. On the other hand, it has been made mandatory for those seeking to become candidates from the private sector to have experience working in the position of CEO or equivalent of a financial institution. The notification states that the age limit of the applicant should not be more than 63 years.
Interested candidates can apply till April 6.
The current chairman of IRDAI is Devashish Panda. His 3-year term ends on March 13. This is why the Ministry of Finance has opened applications for the post of chairman. Panda had earlier worked as a secretary in the Department of Financial Services under the Ministry of Finance.
