FinMin top brass of 2024, financial regulators in 2025

India's top finance ministry honchos till recently, who had combined forces on many a Union Budget including the one presented this year, are now collectively responsible for securing and developing the country's financial sector, with the Centre appointing the recently retired Finance Secretary Ajay Seth at the helm of the insurance regulator on Thursday.

- HARSH KUMAR & RUCHIKA CHITRAVANSHI

Seth was picked as the new chairman of the Insurance Regulatory and Development Authority of India (Irdai), nearly four months after the post fell vacant after the tenure of incumbent chief Debashis Panda ended this March. The Appointments Committee of the Cabinet chaired by Prime Minister Narendra Modi approved Seth's appointment for a period of three years or till he attains 65 years of age or until further orders, whichever is the earliest.

Seth, who also held the position of economic affairs secretary since April 2021 till his retirement as Finance Secretary last month, had been a key part of Finance Minister Nirmala Sitharaman's Budget formulation team for four years.