J Harinarayan new IRDA Chief

Mr. Jandhyala Harinarayan has been appointed as a chairman of insurance Regulatory Development Authority of India (IRDA), succeeding CS Rao who retired in May this year. He was formerly associated with the Andhra Pradesh government as a chief secretary.

Recommendations for his appointment were made by search committee headed by finance secretary D Subba Rao.

Mr Harinarayan, who was a former chief secretary of Andhra Pradesh, will have a five-year tenure at IRDA. He succeeds CS Rao who retired in May this year.

He was chosen for the top job based on the recommendations of a search committee headed by finance secretary D Subba Rao. The new chairmen will work in a direction  to widen and deepen insurance penetration in India and promote competition among insurers to give a better deal to consumers.