Discovering a brand new chairman for the Insurance coverage Regulatory Authority of India (IRDAI) is changing into crooked. That is on account of IRDAI headquarters in Hyderabad. Many of us need to change into the chairperson of IRDAI however don’t need to cross to Hyderabad. In keeping with assets, the sturdy contender Ajay Seth has rejected the put up, refusing to be reelocked by way of New Delhi. Seth is these days the Finance Secretary and Secretary within the Division of Financial Affairs and is within the nationwide capital.
Ok Nagaraju may be a number of the claimants who want to cross to Hyderabad. It’s also a big identify for the chairperson of IRDAI. Nagaraju is these days the Secretary of the Division of Monetary Products and services beneath the Finance Ministry and is operating in New Delhi.
Since when is the put up vacant
The put up of chairperson in IRDAI is vacant since March 14, 2025. The closing time the put up was once vacant for 10 months after Subhash Chandra Khuntia left. In March 2022, Debashish Panda turned into the chairperson. The recruitment procedure for IRDAI chairperson was once began in March 2025 and the closing date to put up the appliance was once 6 April.
The space between Delhi and Hyderabad could also be the explanation
A senior legitimate of an insurance coverage corporate advised Moneycontrol that it kind of feels that the gap between Hyderabad and Delhi is the principle explanation why for now not going to Hyderabad for the location of IRDAI chairperson. Senior Bureaucrats want to stick on the subject of main ministries in New Delhi. The legitimate additional stated, “With the consistent out of the listing of claimants, the federal government might now be compelled to rethink its means. Possibly it’s going to both inspire the applicants to visit Hyderabad or revaluate the impediment of this renewal.”
Why is the headquarters in Hyderabad?
Assets indicated that the headquarters of IRDAI is principally because of the decentralization introduced in Hyderabad within the early 2000s. IRDAI began in 1999 and at the moment its headquarters have been in New Delhi. However then in 2001, the headquarters led by way of its first complete time chairperson N Rangachari have been shifted to Hyderabad. Hyderabad was once thought to be an acceptable possibility, because of the provision of evolved infrastructure, low operational prices and professional personnel at the moment. The verdict was once a part of the federal government’s initiative to cut back congestion in Delhi and increase different towns as administrative and regulatory hubs.