Govt keen on insurance merger
The move came soon after the incumbent Dr N Srinivasa Rao was appointed as economic advisor at the Rural Development Ministry.
New Delhi: Ahead of the merger of three public sector general insurance firms, the government has bifurcated the post of joint secretary (insurance) in the finance ministry into two positions, from one earlier.
The move came soon after the incumbent Dr N Srinivasa Rao was appointed as economic advisor at the Rural Development Ministry.
“Ahead of merger plan of the government, the financial division has decided to bifurcate the joint secretary post into two. The aim of government is to lessen the work pressure and deliver the job at its scheduled time,” a top finance ministry source told Financial Chronicle.
The source said Rao, an Indian Economic Services officer of the 1995 batch, was transferred to the Deaprtment of Pharmaceuticals in the Ministry of Chemicals and Fertlisers in October last year.
He was again transferred to the Rural Development Ministry in December-end on the superannuation of Manoranjan Kumar. “Still, he had been continuing at the Finance Ministry due to the Budget and was relieved of his post on February 4," the source said, adding that Lalit Kumar, who had been working as an advisor at the finance ministry until now, will be looking after life insurance sector.
Similarly, the non-life sector is now believed to be handled by Suchindra Mishra, who hails from Indian Defence Accounts Services. Both of them have taken up their new assignment on February 4.