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The Appointments Committee of the Cabinet has approved the appointment of Rakesh Joshi, former Executive Vice President and Group Head (Debt Capital Markets), State Bank of India Capital Markets to the post of Whole-Time Member (Finance & Investment) at the Insurance Regulatory and Development of India (IRDAI).
He has been appointed initially for three years, sources close to the development said.
It may be recalled that the post of Member (Finance & Investment) has been vacant for a long time.
The IRDAI is a 10-member body with a Chairman, five whole-time members and four part-time members.
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India’s insurance assets under management of traditional policies and annuity funds is more than ₹26 lakh crore and ₹9 lakh crore respectively.
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