Overview

• The Appointments Committee of the Cabinet approved Seth’s appointment on July 24, 2025, for a three-year term or until he attains 65 years, whichever is earlier.
• The chair post had been vacant since Debasish Panda’s term expired in March 2025, marking a four-month leadership gap at the insurance regulator.
• Seth’s nomination followed a recommendation by the Financial Sector Regulatory Appointments Search Committee, in line with the prescribed regulator appointment framework.
• A 1987-batch IAS officer of the Karnataka cadre, Seth retired as Economic Affairs Secretary in June 2025 and briefly held additional charge as Revenue Secretary.
• With this appointment, all three of India’s apex financial regulators—RBI, SEBI and IRDAI—are now led by former finance ministry officials.