Debasish Panda appointed financial services secretary

The Appointments Committee of the Cabinet (ACC) has approved his appointment as secretary, department of financial services, in place of Rajiv Kumar, who superannuates this month-end, a personnel ministry order said. Panda, a 1987-batch IAS officer of the Uttar Pradesh cadre, is at present special secretary, department of financial services.

 

New Delhi:

Senior IAS officer Debasish Panda was on Thursday appointed as the new secretary, financial services,ministry of finance(MoF) as part of a top level bureaucratic reshuffle effected by the Centre.

 

Panda, a 1987-batch IAS officer of the Uttar Pradesh cadre, is at present special secretary, department of financial services.

 

The Appointments Committee of the Cabinet (ACC) has approved his appointment as secretary, department of financial services, in place of Rajiv Kumar, who superannuates this month-end, a personnel ministry order said.

 

Panda will have to oversee many mergers in the PSU banking and insurance indutsry.

 

Finance Minister Nirmala Sitharaman had already announced a big consolidation of public sector banks: 10 public sector banks to be merged into four.

 

Under the scheme of amalgamation, Indian Bank will be merged with Allahabad Bank (anchor bank - Indian Bank); PNB, OBC and United Bank to be merged (PNB will be the anchor bank); Union Bank of India, Andhra Bank and Corporation Bank to be merged (anchor bank - Union Bank of India); and Canara Bank and Syndicate Bank to be merged (anchor bank - Canara Bank). In place of 27 public sector banks in 2017, now there will be 12 public sector banks after the latest round of consolidation of PSU banks. The consolidation of public sector banks will give them scale, the finance minister said

 

The much expected merger of three PSU general insurers, Oriental Insurance Company,United India Insurance and National Insurance Company are likely to be announced by March end.

 

The Union Cabinet on Wednesday approved a proposal for capital infusion and immediate release of Rs 2,500 crore for three public sector companies on account of their critical financial conditions.

 

The decision came after UII, NIC  and OIC breached the regulatory solvency requirements.

 

Rajiv Kumar was also the finance secretary and sources say Ajay Bhusan Pandey, Revenue Secretary, will be made the new Finance Secretary,


Pawan Kumar Agarwal, chief executive officer, Food Safety and Standards Authority of India (FSSAI), has been appointed secretary, department of consumer affairs.

 

Saraswati Prasad, a 1985-batch IAS officer of Assam-Meghalaya cadre, will be secretary, National Commission for Scheduled Tribes.

 

He is at present special secretary and financial adviser, ministry of steel.

 

Usha Sharma, Director General, Archaeological Survey of India, has been appointed secretary, department of youth affairs.

 

Senior civil servant Raj Kumar will be secretary, department of defence production. Kumar, a 1987-batch IAS officer of Gujarat cadre, is currently Director General, Employees' State Insurance Corporation.

 

Rajeev Ranjan has been appointed as secretary, department of fisheries.Ranjan is currently special secretary, GST council secretariat.

 

The central government has appointed Rajiv Bansal as the new CMD of national carrier Air India. 
 

 


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