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Nagaraju Maddirala appointed as new DFS Secy

by AIP Online Bureau | Aug 16, 2024 | Banking & Bancassurance, Health, Indian News, Pension & Social Security, Policy | 8 comments

Nagaraju Maddirala, Secretary-Designate, Department of Financial Services

A few issues concerning the insurance industry, Maddirala will look into, with priority, soon after taking over as the secretary are- pending reforms measures which need amendments of various existing Insurance Acts and infusing capital into three of PSU general insurers-Oriental Insurance Company, National Insurance Company and United India Insurance.

Deepti Gaur Mukerjee, chief executive officer, National Health Authority, has been made secretary, Ministry of Corporate Affairs

New Delhi: In a large scale reshuffle of secretaries at the center, on Friday, the government has appointed Nagaraju Maddirala, lAS (1993 batch), 58,additional secretary, Ministry of Coal, as the new secretary, Department of Financial Services(DFS), Ministry of Finance in place of Vivek Joshi, who has been posted as secretary, Department of Personnel and Training, Ministry of Personnel, Public Grievances and Pensions.

Joshi has been the secretary of DFS since Feb 2022. Maddirala belongs to Tripura cadre and has around two years to retire.

A few issues concerning the insurance industry, Maddirala will look into, with priority, soon after taking over as the secretary are- pending insurance reforms measures which need amendments of various existing Insurance Acts and infusing capital into three of PSU general insurers-Oriental Insurance Company, National Insurance Company and United India Insurance.

In his earlier stint with the Ministry of Finance, during 2004-08, he served in the Department of Economic Affairs as director in Japan/North America and in the World Bank Divisions. Thereafter, he worked as advisor to the executive director at the World Bank in Washington DC from 2008 to 2012.

The scope of the DFS covers the functioning of Banks, Financial Institutions, Insurance Companies and the National Pension System (NPS).

The department is headed by the secretary who is assisted by one additional secretaries, one senior economic adviser (SEA) three joint secretaries (JS), two economic advisers (EA) and a deputy director general (DDG).

The department oversees several key programs/initiatives and reforms of the Government concerning the Banking Sector, the Insurance Sector and the Pension Sector in India.

In another move, Deepti Gaur Mukerjee, chief executive officer, National Health Authority(NHA) has been made Secretary, Ministry of Corporate Affairs in place of Manoj Govil who is moving as Secretary, Department of Expenditure, Ministry of Finance.
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8 Comments

  1. Mukesh sarwan
    Mukesh sarwan on August 17, 2024 at 2:01 am

    Congratulations sr

    Reply
  2. Somarouthu Venkata Subba Rao
    Somarouthu Venkata Subba Rao on August 17, 2024 at 2:52 am

    Good to Know. Mr. Maddirala has good experience and exposure in finance and abroad affairs our country will get good service from him.
    All the Best in the New Assignment.
    Somarouthu Venkata Subba Rao
    Mobile 9849049365

    Reply
    • Oruganti suryanarayana murty
      Oruganti suryanarayana murty on August 20, 2024 at 9:56 am

      Namaste, While congratulating for taking charge of DFS, I submit that all GOI small savings like Sukanya Samruddhi, Mahila Savings certificate etc.. may be rolled out through 43 Regional Rural Bank to facilitate Rural poor for more savings. This is humble suggestion

      Reply
  3. Ramesh Akkinepally
    Ramesh Akkinepally on August 17, 2024 at 3:32 am

    We welcome the change with innovation.

    Reply
  4. Seshagiri rao
    Seshagiri rao on August 17, 2024 at 11:43 am

    Congratulations
    And he is having an excellent track record

    Reply
  5. Ashok Manocha
    Ashok Manocha on August 17, 2024 at 12:23 pm

    While wishing Good Luck, we, Insurance Pensioners are looking forward for early approval and implementation of 30% Family Pension as well as Pension Updation.

    Reply
  6. RAKESH SATIJA
    RAKESH SATIJA on August 22, 2024 at 3:54 am

    Congratulations on your new assignment and best of luck for your next inning. Thanks 🙏

    Reply
  7. Arun Kashyap
    Arun Kashyap on August 30, 2024 at 2:37 am

    Congratulations!

    Request for updation of Pension General Insurance Retirees, at least on the lines of Banks & LIC as Retirees’ Association & GIPSA have been able to deliver in this regard.

    Reply

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