Finance Ministry seeks IRDAI member applications

The finance ministry has invited applications for the post of Whole Time Member (Distribution) at insurance regulator IRDAI. The applicant should preferably have at least 25 years of experience in the relevant area with a minimum of three years experience at a senior level, the Department of Financial Services said in an advertisement.

The applicant should not be below the rank of a Chief General Manager of the Reserve Bank of India or equivalent that place in other financial institutions or regulatory bodies, it said.

The department, under the finance ministry, said the applicant should have a minimum of two years of residual service as of the date of vacancy, that is March 4, 2024, and the applicant's age should not exceed 60 years on the said date.

The term of the office of the member will be in accordance with the Insurance Regulatory and Development Authority Act. No person will hold the office of the Whole Time Member after attaining the age of 62 years, it added.

Currently, the Insurance Regulatory and Development Authority of India (IRDAI) Member (Distribution) is S N Rajeswari.

The last date for submitting applications is October 30, 2023.