K. Rajaraman appointed as new chairperson of IFSCA
The government has announced the appointment of senior bureaucrat and telecom secretary K Rajaraman as the next Chairperson of the International Financial Services Centres Authority (IFSCA), showed an official order. Rajaraman is an Indian Administrative Service officer of 1989 batch.
His appointment is for a period of three years. He succeeds the first IFSCA Chairperson Injeti Srinivas who led the authority since 2020.
Rajaraman’s term will be for three years from the date of his assumption of charge of the post, or till attaining the age of 65 years, or until further orders, whichever is the earliest, the order issued by the finance ministry said. IFSCA was set up in April 2020 under the International Financial Services Centres Authority Act, 2019, at GIFT City, Gandhinagar in Gujarat.
IFSCA is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC). At present, the GIFT IFSC is the maiden international financial services centre in India.
Prior to the establishment of IFSCA, RBI, SEBI, PFRDA and IRDAI regulated the business in IFSC. (
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