The Department of Financial Services, Ministry of Finance has invited applications for the post of Chairperson, Insurance Regulatory and Development Authority (IRDA). The position of the chairman will be vacant from February 21, 2013.
According to Section 5(1) of the IRDA Act, the person will be appointed for a maximum period of five years or up to 65 years of age, whichever is earlier. The pay and allowances of the Chairperson shall be Rs. 3.75 lakh consolidated per month without the facility of house and car.
The applicant should have at least for 30 years of experience and should have worked as Secretary to the Government of India or its equivalent level in state governments or private sector and have a track record of leadership and authority in decision taking.
Â
