K Rajaraman to head IFSCA as the Chairperson

K. Rajaraman, the Telecom Secretary, has been appointed as the new chairperson of the International Financial Services Centres Authority (IFSCA) by the government. Injeti Srinivas, who was the first chairperson of this regulatory authority appointed in 2020, will be succeeded by Rajaraman.

Rajaraman is a 1989-batch Indian Administrative Service (IAS) officer of the Tamil Nadu cadre. He has held several important positions in the government till now. This includes the Secretary, of the Department of Economic Affairs, and the Secretary, of the Department of Financial Services.

Rajaraman's appointment will be effective for a period of three years from the date he assumes charge, or until he reaches the age of 65, or until further orders, whichever occurs earliest. The IFSCA was established in April 2020 under the International Financial Services Centres Authority Act, 2019. It is headquartered at GIFT City, Gandhinagar.

IFSCA is a relatively new regulator, and it is still in the process of establishing itself. Rajaraman's appointment will help to provide IFSCA with the leadership and direction that it needs to succeed.