Panda appointed as special secretary,DFS
As additional secretary, Panda was in charge of Insurance industry and financial inclusion and was in the board of New Indian Assurance. He is also supervising the merger of three PSU general insurers, United India Insurance,National Insurance Company,Oriental Insurance Company.
Debasish Panda, IAS,additional secretary,Department of Financial services, Ministry of Finance, on promotion,has been posted as special secreatary, in the same department on Friday by the government.
He is a 1987 batch of Indian Administrative Service of UP cader.and was recently empanelled as a secretary by the appointments committee of the Union Cabinet.
Ravi Mittal, IAS, special secretary,DFS,has been made secretary,Ministry of Information & Broadcasting. Sanjeev Kaushik, an IAS officer of 1992 batch from Kerala cader, has been appointed as the additional secretary, DFS, in place of Mittal,
As additional secretary, Panda was in charge of Insurance industry and financial inclusion and was in the board of New Indian Assurance. He is also supervising the merger of three PSU general insurers,United India Insurance,National Insurance Company,Oriental Insurance Company. The merger proposal of these companies are now awating approval of the Cabinet. The comapnies are waiting fund infusion from the government as they lack minimum solvency ratio of 150 per cent. Panda has also spearheaded the technological transformation of PSU general insurance companies..
Mittal was also in the board of GIC Re..
The MOF is will see another round of top level changes as Rajiv Kumar, finance secretary and also in charge of DFS, will retire in Feb,29,2020.
The government has also appointed TV Somanathan as secretary in the expenditure department of the Ministry of Finance.
Prior to his appointment as expenditure secretary, Somanathan was commercial taxes commissioner and principal secretary (Planning & Development) in the Tamil Nadu government.The post of expenditure secretary remained vacant after the appointment of GC Murmu as the first lieutenant governor of the Union Territory of Jammu and Kashmir. On October 29, Murmu relinquished the post of expenditure secretary and Atanu Chakraborty, 1985 batch IAS officer was given the additional charge.
Recently, Saurabh Mishra, a privare sector insurance professional, on contract basis, has been appointed as a joint secretary in the department of financial services.Je had earlier worked with HDFC Life, Tata AIA and Wills Tower Watson.
Earlier,the government had invited applications from private sector professionals above 40 years of age and with 15 years of work experience in specific fields such as economic affairs, civil aviation or commerce under its lateral entry scheme for 10 posts.
Recently, The appointments committee of the Union Cabinet approved the empanelment of 26 officers of IAS as a secretary while 15 others were given rank equivalent to secretary.