Explorer

Senior IAS Officer Rajiv Kumar Appointed As New Finance Secretary After Subhash Chandra Garg's Exit

The Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi approved the designation of Kumar as the new Finance Secretary, according to an official order.

New Delhi: Rajiv Kumar, currently serving as Financial Services Secretary, was on Tuesday designated as the new Finance Secretary. The Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi approved the designation of Kumar as the new Finance Secretary, according to an official order. Kumar is a 1984 batch IAS officer of Jharkhand cadre. His appointment comes in the backdrop of transfer of Subhash Chandra Garg as the power secretary. Garg has already sought voluntary retirement from service. Kumar is credited with undertaking multiple reforms in the banking sector and providing a record amount of capital infusion in the public sector banks. Since the commencement of clean-up in 2015-16, the recapitalisation has crossed over Rs 3 lakh crore through the mix of budgetary support and market raising, helping banks to make adequate provisions for the bad loans. As a result, there has been a reversal in the deteriorating bad loan situation and there has been a record loan recovery in the last fiscal. Following the cleaning-up exercise undertaken by Kumar, banks have started posting profits in the first quarter of the current fiscal. Before joining the Finance Ministry, Kumar was the Establishment Officer in the Department of Personnel and Training. He was instrumental in many initiatives including streamlining of promotion and appointment process done by the ACC.
View More
Advertisement

IPL Auction 2025

Most Expensive Players In The Squad
Virat Kohli
₹21 CR
Josh Hazlewood
₹12.50 CR
Rajat Patidar
₹11 CR
View all
Most Expensive Players In The Squad
Rishabh Pant
₹27 CR
Nicholas Pooran
₹21 CR
Ravi Bishnoi
₹11 CR
View all
Most Expensive Players In The Squad
Jasprit Bumrah
₹18 CR
Suryakumar Yadav
₹16.35 CR
Hardik Pandya
₹16.35 CR
View all
Most Expensive Players In The Squad
Heinrich Klaasen
₹23 CR
Pat Cummins
₹18 CR
Abhishek Sharma
₹14 CR
View all
Most Expensive Players In The Squad
Ruturaj Gaikwad
₹18 CR
Ravindra Jadeja
₹18 CR
Matheesha Pathirana
₹13 CR
View all
Most Expensive Players In The Squad
Shreyas Iyer
₹26.75 CR
Arshdeep Singh
₹18 CR
Yuzvendra Chahal
₹18 CR
View all
Most Expensive Players In The Squad
Sanju Samson
₹18 CR
Yashaswi Jaiswal
₹18 CR
Riyan Parag
₹14 CR
View all
Most Expensive Players In The Squad
Venkatesh Iyer
₹23.75 CR
Rinku Singh
₹13 CR
Varun Chakaravarthy
₹12 CR
View all
Most Expensive Players In The Squad
Rashid Khan
₹18 CR
Shubman Gill
₹16.5 CR
Jos Buttler
₹15.75 CR
View all
Most Expensive Players In The Squad
Axar Patel
₹16.5 CR
KL Rahul
₹14 CR
Kuldeep Yadav
₹13.25 CR
View all
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

Supreme Court Directs CAQM To Consider Re-Opening Schools, GRAP-IV To Continue In Delhi
SC Directs CAQM To Consider Re-Opening Schools, GRAP-IV To Continue In Delhi
Sambhal Violence: Mosque Committee Head Zafar Ali Arrested, Akhilesh Meets Speaker Over FIR On SP MP Barq
Sambhal Violence: Mosque Committee Head Zafar Ali Arrested, Akhilesh Meets Speaker Over FIR On SP MP Barq
IPL 2025 Mega Auction, Day 2 Live: Bhuvneshwar Kumar Becomes Most Expensive Buy Of The Day, Joins RCB For Rs. 10.75 Cr
IPL 2025 Mega Auction, Day 2 Live: Bhuvneshwar Kumar Becomes Most Expensive Buy Of The Day, Joins RCB For Rs. 10.75 Cr
Greater Noida Road Rage: Video Of Pistol-Wielding Man In Bisrakh Goes Viral. WATCH
Greater Noida Road Rage: Video Of Pistol-Wielding Man In Bisrakh Goes Viral. WATCH
Advertisement
ABP Premium

Videos

FIR Filed Against Sambhal MP Ziaur Rahman, Statement Released Amidst ControversyFIR Filed Against Sambhal MP Ziaur Rahman and Local MLA's Son in Controversial CaseSambhal Violence Sparks Political Firestorm, Congress MP Imran Masood's Strong Remarks | ABP NewsBreaking News: SP Leader Ram Gopal Yadav Reacts to Sambhal Violence | ABP News

Photo Gallery

Embed widget