The Union government has cleared the appointment of senior IAS officer Injeti Srinivas as the chairman of the International Financial Services Centres Authority (IFSCA). With this now the former corporate affairs secretary and 1983-batch Odisha cadre IAS officer will head the IFSCA for a period of three years.

“The Appointments Committee of the Cabinet approved the appointment of Injeti Srinivas as chairman of the International Financial Services Centres Authority (IFSCA),” the government order said.

The International Financial Services is a recently established body under the finance ministry as the unified authority to regulate all financial services in International Financial Services Centres (IFSCs) in the country.

Headquartered at GIFT city in Gandhinagar, the body will looks to regulate financial products such as securities, deposits or contracts of insurance, financial services, and financial institutions which have been previously approved by any appropriate regulator in an IFSC.

In his earlier tenure as corporate affairs secretary, Srinivas was instrumental in pushing through significant reforms in the Insolvency and Bankruptcy Code (IBC) and the Companies Act. He also played a pivotal role in the decriminalisation of various minor, procedural and technical offences under the Companies Act.

(Source: ET Government)