India: File Pic: K Rajaraman, Chairman, Ifsca | Photo Credit: Jaishankar P 7656@Chennai

Rajaraman’s extension is aimed at ensuring continuity at the helm as the regulator works towards strengthening the International Financial Services Centre ecosystem at GIFT City. File pic: K Rajaraman, Chairman, IFSCA | Photo Credit: Jaishankar P 7656@Chennai. The Centre has extended the tenure of K Rajaraman as Chairperson of the International Financial Services Centres Authority (IFSCA) beyond July 31, 2026, allowing him to continue at the helm of India ’s unified financial services regulator till he attains the age of 65 years in October 2028 or until further orders, whichever is earlier.

The extension is aimed at ensuring continuity in the leadership of IFSCA as the regulator works towards strengthening India’s International Financial Services Centre ecosystem at GIFT City. In a notification issued by the Department of Economic Affairs in the Finance Ministry, the Centre said Rajaraman has been reappointed under the provisions of the International Financial Services Centres Authority Act, 2019, and the International Financial Services Centres Authority (Salary, Allowances and Other Terms and Conditions of Service of Chairperson and Members) Rules, 2020. Rajaraman, a retired 1989-batch Indian Administrative Service (IAS) officer of the Tamil Nadu cadre, assumed charge as IFSCA Chairperson on August 1, 2023. Before taking charge at IFSCA, Rajaraman served as Secretary, Department of Telecommunications. During his career in the Union Government, he also held key positions in the Ministry of Finance, including Additional Secretary in the Department of Economic Affairs and Joint Secretary in the Department of Expenditure. He has also served in several senior roles in the Tamil Nadu government, including Managing Director of Chennai Metro Rail Ltd and Commissioner of Commercial Taxes.