Leadership gaps plague financial regulatory bodies

The government will need to expedite its headhunting exercise for top positions across key financial regulatory bodies, including those overseeing pension, insurance, banking and financial reporting.

- RUCHIKA CHITRAVANSHI

Several such positions are already vacant, or will be vacated soon.

For the chairperson's post in the Insurance Regulatory and Development Authority of India (Irdai), the department of financial services (DFS) in the Ministry of Finance will be accepting applications till April 6. The selection process will begin thereafter. The term of its last chairperson Debashish Panda ended on March 13.

"The applicant should have a minimum of two years of residual service as on the date of vacancy, that is, 14.03.2025. And, the applicant's age should not exceed 63 years on the said date," the DFS has said in its notification inviting applications.