Insurance Regulatory & Development Authority (Irda) has remained headless as the Centre is yet to notify the name of the new chairman. CS Rao retired from chairmanship the post of Irda on May 14. The Centre has selected Jandhyala Harinarayan, former chief secretary, Andhara Pradesh, as the new chairman of Irda on the basis of recommendation of a search committee headed by finance secretary D Subba Rao.
However the official notification is yet to be issued by the government. “The notification should be out any moment,” said sources at IRDA.
Once again the Irda chairmanship has been filled by a retired officer Indian Administrative Service. Earlier the selection committee had short listed two names for the post. Along with Harinarayan, the name of CR Murlidhran was also shortlisted for the final selected.
These two names were short-listed after rejecting some names of former and current chiefs of state owned general insurance sector. Suprass Bhandari, former chairman & managing director, Agriculture Insurance Company had filed a writ petition against the selection process of Irda chairman by the search committee in Delhi High Court. However the HC had rejected the petition saying that selection of names for the Irda chairmanship lie with the search committee.