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Business News/ News / India/  Rajiv Kumar, former finance secretary, appointed as new election commissioner
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Rajiv Kumar, former finance secretary, appointed as new election commissioner

Rajiv Kumar has over three decades of experience in public policy and administration across various sectors
  • Kumar was designated as finance secretary in July 2019
  • Former Finance Secretary Rajiv Kumar (Photo: PTI)Premium
    Former Finance Secretary Rajiv Kumar (Photo: PTI)

    The central government on Friday has appointed former finance secretary Rajiv Kumar as the new election commissioner. He will replace Ashok Lavasa, who resigned earlier this week. Kumar will be appointed as the election commissioner "with effect from the date he assumes the office," the central government said in a statement.

    A 1984-batch IAS officer from Jharkhand cadre, Kumar has over three decades of experience in public policy and administration across various sectors. He has BSc and LLB degrees, along with a masters in public policy and sustainability.

    Kumar took over as the secretary, Department of Financial Services in September when most of the public sector banks were in losses. He was designated as finance secretary in July 2019. He played a major role in merging 10 public sector banks into four, according to officials. During his two-and-half year stint as financial services secretary, he took several policy decisions to promote responsive and responsible banking. Known for his bold moves, the 60-year-old undertook a massive 3 lakh crore recapitalisation of banks during his tenure.

    He was also instrumental in brokering peace between the centre and the Reserve Bank of India (RBI) that resulted in the smooth transfer of 1.76 lakh crore of the central bank's surplus to the exchequer last year, according to officials.

    Kumar also played a key role in taking ahead Prime Minister Narendra Modi’s plan of financial inclusion, aimed at boosting credit access and job creation, through flagship schemes such as Pradhan Mantri Jan Dhan Yojana, Mudra loan scheme, among others. He is known to have initiated and implemented the 59-minute loan scheme for the MSME sector.

    Before joining the finance ministry, Kumar was the establishment officer (EO) in the personnel ministry. During his term in the personnel ministry, Kumar introduced a 360 degree appraisal system for promotion and empanelment of senior bureaucrats. He was instrumental in streamlining the promotion and appointment process done by the Appointments Committee of the Cabinet. (ACC). Incidentally, a compendium of guidelines pertaining to board-level appointments in the Central Public Sector Enterprises was issued by Kumar when he worked as the EO in 2017.

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    Published: 21 Aug 2020, 10:45 PM IST
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