The Centre has appointed Narayana Rao Battu, an Additional Secretary in the Law Ministry, as Whole-Time Member (Law) in the Pension Fund Regulatory & Development Authority (PFRA).
His posting will become effective from the day he assumes charge of the post till he attains the age of 62 years or until further order, whichever is earlier, the Department of Financial Services said in an executive order issued on Thursday.
While the post of Member (law) has now been filled, the Centre is yet to appoint Member (Economics) — the only other vacancy in the Board. Deepak Mohanty, who was the erstwhile Member (Economics), had demitted office in end-May.
The Finance Ministry had invited applications for filling the posts of Whole-Time Member (Law) and While-Time Member (Economics) at the PFRDA in March this year.
Both the posts fell vacant in end-May this year. The appointed members can hold office for five years and would be eligible for re-appointment. The only stipulation is that the whole-time member cannot hold office after attaining the age of 62 years.
Prior to Battu, Pramod Kumar Singh was the whole-time member (Law) at PFRDA.
The PFRDA board comprises a chairperson and not more than six members, of whom at least three should be whole-time members, to be appointed by the Central Government.