MUMBAI: The government has appointed Ajay Seth, a retired 1987-batch IAS officer and former finance secretary, as the new chairperson of the Insurance Regulatory and Development Authority of India (Irdai), for a three-year term or until he turns 65, whichever is earlier. The decision, approved by the appointments committee of the Cabinet, ends a nearly four-month leadership vacuum at the regulatory body.Seth, who is the sixth IAS officer to head the regulatory body, has a long experience in economic policymaking. He most recently served as finance secretary, and before that, as secretary of the department of economic affairs. He also briefly held charge of the revenue department, overseeing both direct and indirect tax administration. His earlier assignments include a stint at the Asian Development Bank and leadership of Bangalore’s metro project.As a key architect of India’s post-pandemic macroeconomic policy, Seth was responsible for shaping union budgets, issuing sovereign green bonds, and spearheading infrastructure finance initiatives. His elevation to Irdai suggests that the government expects him to push through long-pending reforms-some of which have been on hold since his predecessor, Debasish Panda, demitted office in March.