An Autonomous Body of Government of India
Former Secretary, Department of Personnel & Training, Government of India
Shri Bhanu Pratap Sharma is a retired IAS officer (1981 Batch) from Bihar Cadre. He has a graduate degree in Physics (Honours) from St Xavier’s College, Ranchi. He, thereafter, did Post Graduate Diploma in Business Management (equivalent to MBA) from XLRI, Jamshedpur with specialisation in Finance and Marketing. During his service period, while undergoing an eleven months long training programme at National Defence College, New Delhi, he was awarded M. Phil in Defence & Strategic Studies from Madras University.
He started his career with field postings in Bihar. Thereafter, he held important positions in the Secretariat both at the Centre as well as in the State Government. The three streams where he worked the longest are Personnel (12 years), Finance (5 years) and Health (8 years). Some of the important posts held in the State Government are Principal Secretary, Finance, Principal Secretary, Health & Family Welfare, Principal Secretary, Agriculture & Animal Husbandry, Secretary, Expenditure. The important posts held at the Centre are Secretary, Department of Personnel & Training, Secretary, Health and Family Welfare, Establishment Officer & Additional Secretary, Department of Personnel & Training.
After his retirement from the post of Secretary, DoPT, he has been appointed Chairman, Recruitment & Assessment Centre (RAC) in Defence Research Development Organisation (DRDO), a body which performs the recruitment and promotion functions for Defence Scientists.
In his career, he has had the occasion to advise the government on many important policy issues related to recruitment, cadre restructuring, appointment, promotion, training and vigilance matters. He also drove the implementation of various reform measures to improve governance. He has been associated with a large number of important legislative changes in both the personnel and health sector.
He has been instrumental in the introduction of a number of e governance measures, some of them being fully online treasury system in Bihar (2009), online Minority Merit Scholarship Management System (2010-11), Online Performance Management System (SPARROW) for IAS officers (2014) and its replication to various central services. Delay in Vigilance status has been one of the main reasons for delay in Board level appointments in Central Public Sector Enterprises. An online system SOLVE launched in 2017 is making a difference now.
Secretary, Department of Financial Services, Government of India
Shri M. Nagaraju, IAS, Secretary, Department of Financial Services, Ministry of Finance is an IAS officer belonging to 1993 batch. He did post-graduation from the University of Hyderabad.
Over the course of the service, he served at state, national and international level in the areas of public order, revenue & development administration, tribal development, finance, international economic relations, Industries and commerce, healthcare and State finances.
In the State Government, he served as District Magistrate, Director, Tribal Welfare, Secretary /Principal Secretary of Health, Women and Child Development, Finance and Industries & Commerce departments.
During 2004-08, he served in the Ministry of Finance, Department of Economic Affairs as Director in Japan/North America and in the World Bank Divisions. Thereafter, he worked as Advisor to the Executive Director at the World Bank in Washington DC from 2008 to 2012.
He was a visiting fellow at the University of Pennsylvania, USA for one year in 2012-13 and Visiting Research Scholar in Stonehill College in 2018-19.
He joined as Joint Secretary, Ministry of Coal on 30.01.2020 and got promoted as Additional Secretary, Ministry of Coal from 03.11.2020 and continued in the same Ministry. Shri Nagaraju got promoted as Secretary to Government of India and was immediately appointed as Secretary, Department of Financial Services w.e.f. 19.8.2024.
Secretary, Department of Public Enterprises, Government of India
Shri Tuhin Kanta Pandey is a member of Indian Administrative Service (IAS) of 1987 of Odisha cadre. He holds a Masters in Economics from Panjab University, Chandigarh and an MBA from the University of Birmingham (UK). Shri Pandey currently serves as the Secretary for both the Department of Investment & Public Asset Management (DIPAM), since October 24, 2019 and Department of Public Enterprises (DPE) since August 01, 2024. Both the departments function under the Ministry of Finance.
As Secretary, DIPAM, Shri Pandey is responsible for managing Government of India’s equity in Public Sector Enterprises including capital management, dividend distribution, disinvestment and value creation. As Secretary, DPE he is also mandated with the task of formulating policies and guidelines to promote excellence, competitiveness and responsible governance in public sector enterprises in India.
Shri Pandey has held many significant positions in Union & State Government of Odisha, in addition to serving a stint in the Regional Office of the United Nations Industrial Development Organisation (UNIDO). In the Union Govt. his previous positions include Joint Secretary, Planning Commission (now Niti Aayog), Joint Secretary, Cabinet Secretariat and Deputy Secretary in Ministry of Commerce. He has also held key portfolios as Commissioner, Principal Secretary/Special Secretary, Addl. Chief Secretary etc. in various departments in the state of Odisha.
Deputy Governor, Reserve Bank of India
Shri M. Rajeshwar Rao, Deputy Governor of Reserve Bank of India is a member of Banks Board Bureau since November 12, 2020.
As Deputy Governor in RBI, Shri Rao currently looks after Department of Regulation, Department of Communication, Enforcement Department, Legal Department and Risk Monitoring Department.
Shri Rao, a career central banker joined the Bank in 1984 and has worked in various positions in Reserve Bank of India. As Executive Director, he was looking after the Financial Markets Operation Department, the International Department, the Internal Debt Management Department and the Secretary’s Department in RBI.
Prior to taking over as the Executive Director, Shri Rajeshwar Rao was the Chief General Manager, Financial Markets Operation Department and had previously held charge of the Risk Monitoring Department. He has also worked as the Banking Ombudsman, New Delhi. He has also worked in central offices of Foreign Exchange Department and Department of Banking Regulation as well as in the Reserve Bank’s regional offices at Ahmedabad, Hyderabad, Chennai and New Delhi.
Shri Rajeshwar Rao has a Bachelor of Arts in Economics and a Master of Business Administration from University of Cochin. He is also a Certificated Associate of Indian Institute of Bankers.
Former MD & CEO, Oriental Bank of Commerce, Expert Member
Shri Animesh Chauhan is a seasoned banker with 43 years of experience in various capacities in the field and corporate office. He retired as Managing Director & CEO of Oriental Bank of Commerce in June, 2017. Prior to his tenure in OBC, he was the Executive Director of Central Bank of India and General Manager at Bank of Baroda. He also headed the London Main Office of BOB & was the Chief Compliance Officer of U.K. operations.
Mr. Chauhan brings with him diverse experience as board member of companies in various fields. Has been instrumental in bringing about change for the betterment of Systems, Processes and People throughout the career. He was the Chairman of Nainital Bank Ltd (on deputation from Bank of Baroda) as well as a Board member of India Infrastructure Finance Company Limited, Canara HSBC OBC Insurance Company Limited, Indian Institute of Banking & Finance and Stress Credit Resolution Private Limited etc. He is currently serves on the Board of Union Asset Management Company Private Limited, Stock Holding Corporation of India Limited, Kailash Healthcare Limited, to name a few.
Some of the other key experience of Mr. Chauhan are as Member “Steering Committee for Strategic HR transformation” at IIFCL, Member of Working Group formed for Restructuring / Merger & Acquisition of PSBs for Gyan Sangam 2.0 and Advisor for amalgamation of OBC & United Bank of India with the Punjab National Bank.
Former MD & CEO ING Vyasa Bank, Centurian Bank of Punjab, ICICI AMC, Expert Member
Mr. Shailendra Bhandari is a seasoned finance professional having expertise in Banking, Private Equity and Mutual Funds. He holds a Master degree in Management from lIM, Ahmedabad. He was the Managing Director & CEO of ING Vysya Bank Ltd and was a part of lNG’s Leadership Group comprising its Top 100 people across all Global businesses. As Head Private Equity in Tata Capital Limited, he served as the founding Head of the Tata’s entry into the Private Equity space. He was the Managing Director and CEO of Centurion Bank of Punjab. He has also worked as Managing Director and CEO of Prudential ICICI Asset Management. He was also part of the core team to set up HDFC Bank as Treasurer and Executive Director. He is also an ex·Citi banker, where he spent thirteen years in several roles in India and overseas. He started his career with Tata Administrative Services serving in various assignments including Steel, Hotels and
He was as a Member of the Managing Committee of the Indian Banks Association and also part of Managing Committee of the Bombay Chambers of Commerce & Industry. He was nominated to the Managing Committee of ASSOCHAM. He has also served as a Director with AMFI (Association of Mutual Funds of India) – the self-regulatory body for mutual funds, as well as a member of the Index Committees of both the Bombay Stock Exchange and the National Stock Exchange.
As of July 2022, he is serving as an Independent Director with Triveni Turbines Ltd., and Axis Mutual Fund AMC.
Former ED, RBI In-charge of Department. ofCorporate Strategy and budget, Corporate Services and Human Resources, Expert Member
Mr Deepak Singhal retired from Reserve Bank of India in January 2019 as its Executive Director. During his career with RBI lasting over 37 years, he worked in areas of supervision and regulation, human resource management, information technology and corporate strategy and budget. Apart from being a member of FSIB, he serves as a member of RBI Services Board and as independent director on board of a few companies.
Former Members for PSBs and FIs
Name/Designation Designation Period
Vinod Rai Chairman 1-4-2016 to 31-3-2018
Anjuli Chib Duggal, Secretary, DFS Ex-officio member 1-4-2016 to 31-8-2017
Rajiv Kumar, Secretary, DFS Ex-officio member 1-9-2017 to 28-2-2020
Debasish Panda, Secretary, DFS Ex-officio member 1-3-2020 to 31-1-2022
Sanjay Malhotra, Secretary, DFS Ex-officio member Feb 2022 to Oct 2022
Dr. Vivek Joshi, Secretary, DFS Ex-officio member 1-11-2022 to 16-8-2024
Ameising Luikham, Secretary, DPE Ex-officio member 1-4-2016 to 24-11-2016
Seema Bahuguna, Secretary, DPE Ex-officio member 25-11-2016 to 31-9-2019
Sailesh, Secretary, DPE Ex-officio member 1-10-2019 to 5-4-2021
Ali Raza Rizvi, Secretary, DPE Ex-officio member 6-4-2021 to 31-7-2024
R Gandhi, Deputy Governor, RBI Ex-officio member 1-4-2016 to 31-8-2018
N. S. Vishwanathan , Deputy Governor, RBI Ex-officio member 31-8-2018 to 31-3-2020
Mahesh K Jain , Deputy Governor, RBI Ex-officio member 1-4-2020 to 11-11-2020
Dr Anil K Khandelwal Member 1-4-2016 to 31-3-2018
H N Sinor Member 1-4-2016 to 31-3-2018
Ms Roopa Kudva Member 1-4-2016 to 1-7-2017
Vedika Bhandarkar Member 12-4-2018 to 11-4-2022
Pradeep Kumar Panja Member 12-4-2018 to 11-4-2022
Pradip Panalal Shah Member 12-4-2018 to 11-4-2022
Former Secretary, Department of Personnel & Training, Government of India
Shri Bhanu Pratap Sharma is a retired IAS officer (1981 Batch) from Bihar Cadre. He has a graduate degree in Physics (Honours) from St Xavier’s College, Ranchi. He, thereafter, did Post Graduate Diploma in Business Management (equivalent to MBA) from XLRI, Jamshedpur with specialisation in Finance and Marketing. During his service period, while undergoing an eleven months long training programme at National Defence College, New Delhi, he was awarded M. Phil in Defence & Strategic Studies from Madras University.
He started his career with field postings in Bihar. Thereafter, he held important positions in the Secretariat both at the Centre as well as in the State Government. The three streams where he worked the longest are Personnel (12 years), Finance (5 years) and Health (8 years). Some of the important posts held in the State Government are Principal Secretary, Finance, Principal Secretary, Health & Family Welfare, Principal Secretary, Agriculture & Animal Husbandry, Secretary, Expenditure. The important posts held at the Centre are Secretary, Department of Personnel & Training, Secretary, Health and Family Welfare, Establishment Officer & Additional Secretary, Department of Personnel & Training.
After his retirement from the post of Secretary, DoPT, he has been appointed Chairman, Recruitment & Assessment Centre (RAC) in Defence Research Development Organisation (DRDO), a body which performs the recruitment and promotion functions for Defence Scientists. He is also Chairman of Banks Board Bureau, a body which advises the Government on top level appointments at Public Sector Banks and on ways to streamline the functioning of the Banks Board.
In his career, he has had the occasion to advise the government on many important policy issues related to recruitment, cadre restructuring, appointment, promotion, training and vigilance matters. He also drove the implementation of various reform measures to improve governance. He has been associated with a large number of important legislative changes in both the personnel and health sector.
He has been instrumental in the introduction of a number of e governance measures, some of them being fully online treasury system in Bihar (2009), online Minority Merit Scholarship Management System (2010-11), Online Performance Management System (SPARROW) for IAS officers (2014) and its replication to various central services. Delay in Vigilance status has been one of the main reasons for delay in Board level appointments in Central Public Sector Enterprises. An online system SOLVE launched in 2017 is making a difference now.
Secretary, Department of Financial Services, Government of India
Shri M. Nagaraju, IAS, Secretary, Department of Financial Services, Ministry of Finance is an IAS officer belonging to 1993 batch. He did post-graduation from the University of Hyderabad.
Over the course of the service, he served at state, national and international level in the areas of public order, revenue & development administration, tribal development, finance, international economic relations, Industries and commerce, healthcare and State finances.
In the State Government, he served as District Magistrate, Director, Tribal Welfare, Secretary /Principal Secretary of Health, Women and Child Development, Finance and Industries & Commerce departments.
During 2004-08, he served in the Ministry of Finance, Department of Economic Affairs as Director in Japan/North America and in the World Bank Divisions. Thereafter, he worked as Advisor to the Executive Director at the World Bank in Washington DC from 2008 to 2012.
He was a visiting fellow at the University of Pennsylvania, USA for one year in 2012-13 and Visiting Research Scholar in Stonehill College in 2018-19.
He joined as Joint Secretary, Ministry of Coal on 30.01.2020 and got promoted as Additional Secretary, Ministry of Coal from 03.11.2020 and continued in the same Ministry. Shri Nagaraju got promoted as Secretary to Government of India and was immediately appointed as Secretary, Department of Financial Services w.e.f. 19.8.2024.
Secretary, Department of Public Enterprises, Government of India
Shri Tuhin Kanta Pandey is a member of Indian Administrative Service (IAS) of 1987 of Odisha cadre. He holds a Masters in Economics from Panjab University, Chandigarh and an MBA from the University of Birmingham (UK). Shri Pandey currently serves as the Secretary for both the Department of Investment & Public Asset Management (DIPAM), since October 24, 2019 and Department of Public Enterprises (DPE) since August 01, 2024. Both the departments function under the Ministry of Finance.
As Secretary, DIPAM, Shri Pandey is responsible for managing Government of India’s equity in Public Sector Enterprises including capital management, dividend distribution, disinvestment and value creation. As Secretary, DPE he is also mandated with the task of formulating policies and guidelines to promote excellence, competitiveness and responsible governance in public sector enterprises in India.
Shri Pandey has held many significant positions in Union & State Government of Odisha, in addition to serving a stint in the Regional Office of the United Nations Industrial Development Organisation (UNIDO). In the Union Govt. his previous positions include Joint Secretary, Planning Commission (now Niti Aayog), Joint Secretary, Cabinet Secretariat and Deputy Secretary in Ministry of Commerce. He has also held key portfolios as Commissioner, Principal Secretary/Special Secretary, Addl. Chief Secretary etc. in various departments in the state of Odisha.
Chairperson, Insurance Regulatory and Development Authority of India
Shri Debasish Panda is an officer of Indian Administrative Service of 1987 batch of Uttar Pradesh cadre. He is the Chairman, Insurance Regulatory and Development Authority of India and is member of the Financial Services Institutions Bureau since July 01, 2022.
Prior to joining IRDAI, Shri Panda served as Secretary, Department of Financial Services, Ministry of Finance, Government of India where he superannuated on 31.1.2022. Shri Panda also served as Joint Secretary (Health & Family Welfare), Additional Secretary and as Special Secretary (Financial Services) in the Government of India.
In the State Government of Uttar Pradesh, he served as District Magistrate in Deoria, Tehri, Uttarakashi & Ghaziabad Districts and as Principal Secretary (Home & Vigilance). He also held the dual charge of Resident Commissioner of Uttar Pradesh and as the Chief Executive Officer, Greater Noida Development Authority.
Shri Panda is a Post Graduate in Physics and has also done Masters in Developmental Management. He also has M.Phil degree in Environmental Sciences. He has undergone foreign training in Public Administration from USA & Philippines.
Former Managing Director LIC, with specialisation in life insurance, Expert Member
Mrs. Usha Sangwan was the first ever woman Managing Director of LIC of India, largest life insurer in the world in terms of number of customers. LIC is also one of the largest domestic institutional investor in India with an asset base of over Rs. 38 lac crores.
Mrs. Sangwan is post graduate in Economics, PG Diploma holder in Human Resource Management and Licentiate from Insurance Institute of India.
Mrs. Sangwan had joined LIC of India in 1981 as a Direct Recruit Officer and handled various important positions during her 37 years of stint in LIC, finally reaching the top position of Managing Director (2013-2018). She has handled virtually every department and every subsidiary of LIC in one capacity or the other. She has worked in Marketing, CRM, IT, Corporate Communication, HR, Investment, Legal, Pension & Group Superannuation to name a few.
Some of her notable and exclusive contributions in LIC are setting up of Direct Marketing Channel from scratch, initiating and nurturing LIC on social media, introducing many innovative products, developing LIC Apps , linking Corporate Communication strategy with grass root marketing activities, developing mentorship and role modelling system in LIC called Super Thirty , starting Student of the Year Programme and mobile van activity for rural marketing.
She has been a Board member of various national and international companies. Prominent among them being Axis Bank, Bombay Stock Exchange, LIC Housing finance , LIC Cards, Grasim Industries, Ambuja Cements , Ultratech Cement, GIC-RE, Voltas, LIC International Bahrain, Singapore, Nepal and SriLanka.
Presently she is independent director on the Board of Godrej Housing Finance, Torrent Power , Trident Ltd and SBILife.
She has widely travelled nationally and internationally. She has undertaken training at best institutes in India and abroad like Asian Institute of Management, Philippines, Indian Institute of Management, ISB , MDI etc.
She has been featured in Forbes magazine amongst top 50 business women of Asia. She has also been awarded Most powerful business woman Award by Business Today and Business World for three years consecutively. She was featured in Femina and on the cover page of Beaurocracy. She was honoured by 92.7 Big FM, Colour TV, Dun & Bradstreet and Loksatta among others. She has won many more accolades and awards. She is a member of Women Empowerment Programme of Niti Aayog, Govt. of India, Member of BCCI Fempower program and a chartered member of Association of International Wealth Managers of India. She was also a jury member to select Women Transforming India by Niti Aayog, Jury member to select top 100 Women in Finance by AIWMI and Jury to select best CFOs 2021 in various categories by Business World.
Former CMD Oriental Insurance Company Limited, with specialisation in non-life insurance, Expert Member
Shri Angara Venkata Girija Kumar is a Former Chairman and Managing Director of Oriental Insurance Co. Ltd., who retired from service on 31st May 2020, upon attaining the age of superannuation. He has held the following position of Chairman (Non – Executive), India international Insurance Pte Ltd, Singapore ( S & P ” A ” rated Insurance company promoted by 4 PSU General Insurance companies), Chairman, Health Insurance TPA Ltd. ( Promoted by 4 PSU GI companies and GIC), Chairman, General Insurance Council – Industry Body 44 Public and Private Sector General Insurers, Reinsurers and Stand Alone Health Insurance companies, Chairman, General Insurers Public Sector Association ( GIPSA) – body representing PSU Companies.
He was also a Board Member Agriculture Insurance Company Ltd, GIC Housing Finance co Ltd, and Member of the Governing Board of National Insurance Academy. He was a Non- Executive Director on the Board of ITC Ltd for 6 years (2010- 2016), as Insurance Industry nominee.
He joined as a Direct Recruit officer in New India Assurance co Ltd in 1980, and had a distinguished Professional Record of 40 years in Public Sector General Insurance Industries having worked in all 4 PSU GI Companies.
He was a Member of the Boards since May 2010 till his superannuation in May 2020 and served on the Boards of National Insurance, United India Insurance and Oriental Insurance Co. Ltd. over 10 years as a Whole – Time Director. Since October 2021, he has been an Independent Director (Board Member), on the Board of Royal Sundaram General Insurance co ltd.
During 2005- 2007 , he was posted in Riyadh, as General Manager, with the responsibility of setting up a Composite Insurance co in Saudi Arabia (a JV among LIC , New India and a local business group as per local regulations). He was also responsible for getting it listed.
He is an MBA from Jawaharlal Nehru Technological University, Hyderabad.
Former Whole-Time Member (Distribution), IRDAI, Expert Member
Shri. Sujay Banarji superannuated as General Manager and Director from The Oriental Insurance Company Ltd. in January 2018. Subsequently he was appointed as Whole Time Member (Distribution) in Insurance Regulatory and Development Authority of India.
Mr. Banarji started his career in the General Insurance Industry in 1982 as a Direct Recruit Officer (Generalist) in The New India Assurance Company Limited and served both in administration and marketing. He was Branch Head in Mohali and Chandigarh and Division Head in Mumbai.
As head of the Reinsurance Underwriting Department of New India Assurance in 2001 he faced the challenges of the 9/11 events in the USA putting the global reinsurance markets in turmoil and withdrawal of terrorism cover. He however, successfully negotiated the reinsurance protection programme of the company both domestic and overseas offices. He represented New India in the formation of Terrorism Pool in India
Mr. Banarji successfully served in New India’s office in Sydney, Australia where he was responsible for reinsurance business in Australia, New Zealand and South Pacific Island nations. He was able to get insurance regulations amended which was affecting NIA’s business.
As General Manager he moved to GIC Re where he was responsible for both Inward Reinsurance Business (Property, Miscellaneous Classes, Marine, Aviation, etc.) and Reinsurance Protection of the company.
In May 2013 Mr. Banarji joined The Oriental Insurance Company Ltd. and in 2014 was appointed as Whole time Director. During his service in Oriental, he held various portfolios and was officiating CMD from July 2016 to May 2017.
Mr. Banarji in course of his service was Director in Banking, Financial Services & Insurance (BFSI), Agriculture Insurance Company Ltd., Health Insurance TPA, Anglo French Drugs & Industries Ltd.(representing the Public Sector GI Companies)
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Former Members for Public Sector Insurers
Name/Designation Designation Period Rajiv Kumar, Secretary, DFS Ex-officio member 13-12-2018 to 28-2-2020
Debasish Panda, Secretary, DFS Ex-officio member 1-3-2020 to 31-1-2022
Sanjay Malhotra, Secretary, DFS Ex-officio member Feb 2022 to Oct 2022 Dr. Vivek Joshi, Secretary, DFS Ex-officio member 1-11-2022 to 16-8-2024
Seema Bahuguna, Secretary, DPE Ex-Officio member 13-12-2018 to 31-9-2019
Shailesh, Secretary, DPE Ex-Officio member 1-10-2019 to April-2021
Ali Raza Rizvi, Secretary, DPE Ex-officio member 1-4-2021 to 31-7-2024
Dr. S. C. Khuntia, Chairman, IRDAI Ex-Officio member 1-5-2019 to April-2021
T. Bhargava Member 13-12-2018 to Aug-2020
Ghyanendra Nath Bajpai Member 13-12-2018 to 12-5-2021 Mathew Verghese Member 13-12-2018 to 12-5-2021
N. M. Govardhan Member 3-8-2020 to 30-6-2022
