The Central Government has extended the tenure of K. Rajaraman as Chairperson of the International Financial Services Centres Authority (IFSCA), allowing him to continue in the role until October 24, 2028, or until further orders, whichever is earlier.
The decision was notified by the Ministry of Finance through a gazette notification dated July 30, ensuring continuity in the leadership of India’s unified financial regulator for international financial services.
Tenure Extended by 27 Months
According to the notification, Rajaraman has been re-appointed as Chairperson beyond the completion of his current term on July 31, 2026. His extended tenure will continue until he attains the age of 65 years on October 24, 2028, unless otherwise decided by the government.
The extension adds around 27 months to his tenure, enabling him to continue overseeing the authority’s initiatives aimed at strengthening India’s international financial services ecosystem.
Leading IFSCA Since 2023
K. Rajaraman took over as Chairperson of IFSCA in 2023 for an initial three-year term. During his tenure, the authority has continued its efforts to develop the Gujarat International Finance Tec-City (GIFT City) as a globally competitive international financial centre.
IFSCA functions as the unified regulator for financial products, financial services and financial institutions operating within the International Financial Services Centre (IFSC).
Experienced Civil Servant
Before joining IFSCA, Rajaraman served as Secretary, Department of Telecommunications (DoT), Government of India, where he played an important role in policy formulation and the expansion of the country’s digital and telecom infrastructure.
Over his distinguished administrative career, he has held several key positions in both the Central and State governments, gaining extensive experience in governance, digital transformation and public policy.
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Continuity for Financial Sector Reforms
The extension is expected to provide continuity to IFSCA’s ongoing initiatives focused on expanding financial services, attracting global investments and strengthening India’s position as an international financial hub.
Under Rajaraman’s leadership, the authority is expected to continue working towards creating a globally competitive regulatory framework, promoting innovation in financial services, and supporting the long-term growth of GIFT City as India’s premier international financial centre.