New Delhi: Ministry of Finance has invited applications for the post of Whole Time Member (Non-Life) in insurance regulator IRDA.
The Department of Financial Services said in an advertisement that the applicant should have at least 25 years of experience in the field of insurance (including general and health insurance) and at least three years of experience at senior level.
“The Insurance Regulatory and Development Authority of India (Irdai) is established by the Insurance Regulatory and Development Authority Act, 1999. Applications are invited from eligible candidates for the post of Whole Time Member (Non-Life) in the Authority,” it said.
It states that the applicant should not be below the rank of Chief General Manager of Reserve Bank of India (RBI) or its equivalent in other financial institutions or regulatory bodies.
It states that the applicant who is a Government servant should preferably be working at least at the level of Additional Secretary to the Government of India or its equivalent level in the State Governments.
The department under the Ministry of Finance said that the applicant should have at least two years of remaining service as on the date of vacancy, May 6, 2022, which means that the age of the applicant should not be more than 60 years as on the said date.
It states that no person shall hold the office of a whole-time member after he attains the age of 62 years.
On salary and allowances, the member will be entitled to a consolidated salary and allowances of Rs 4 lakh per month without the facility of house and car.
The last date for submission of applications is February 15, 2022.
IRDA has a 10-member team headed by the Chairman with five full-time members and four part-time members, which the government is filling.
The post of chairman of IRDA is lying vacant for the last eight months. After Subhash Chandra Khuntia completed his term on May 6, 2021, the post of Chairman of IRDA is lying vacant.
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