NEW DELHI: Telecom Secretary K Rajaraman has been appointed as the new chairperson of the International Financial Services Centres Authority (IFSCA). 

According to a government notification, Rajaraman’s appointment is valid for three years starting from the date he assumes charge, or until he reaches the age of 65, or until further orders are issued, whichever occurs earlier.

Rajaraman is a 1989 batch Tamil Nadu cadre IAS officer. He will succeed Injeti Srinivas, who had taken over as the first chairman of the IFSCA in early July 2020 for a period of three years.

The IFSCA is a statutory authority established under the International Financial Services Centres Authority Act, 2019 with a mandate to develop and regulate the financial products, financial services, and financial institutions in the International Financial Services Centres (IFSC). Currently, GIFT City in Gujarat is India’s first and only operational IFSC.