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Core Purpose

The Central Government constitutes a Quality Review Board in exercise of the powers conferred by sub-section (1) of Section 43 of the Actuaries Act, 2006.

Detailed Summary

The Ministry of Finance, Department of Financial Services, issued Notification S.O. 2022(E) on 6th May, 2025, exercising the powers conferred by sub-section (1) of Section 43 of the Actuaries Act, 2006 (35 of 2006). By this notification, the Central Government constitutes a Quality Review Board. The Board consists of Shri Supratim Bandyopadhyay (former Chairperson, PFRDA) as the Chairperson, nominated by the Central Government. The members are Shri Sanjeev Kumar Pujari (former Executive Director, SBI Life Insurance Company Ltd.) and Shri G. Ramaswamy (former President, ICAI), both nominated by the Central Government, and Shri Gopal Kumar Vishwanath Roy (Fellow of Institute of Actuaries of India) and Ms. Padmaja Raghunathan (Fellow of Institute of Actuaries of India), both nominated by the Council. The posts are part-time in nature, and the tenure for the Chairperson and Members is three years from the date of assumption of charge or until further orders, whichever is earlier. The procedure for meetings and the terms and conditions of service, remuneration, and allowances are governed by the Actuaries Quality Review Board (Procedure for Meetings, and the Terms and Conditions of service and Allowances of the Chairperson and Members) Rules, 2008. This notification takes effect from the date of its publication in the Official Gazette. The notification is issued under F. No. M-16013/01/2024-Ins. I.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-06052025-262937 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 1978] NEW DELHI, TUESDAY, MAY 6, 2025/VAISAKHA 16, 1947 MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 6th May, 2025 S.O. 2022(E).β€”In exercise of the powers conferred by sub-section (1) of Section 43 of the Actuaries Act, 2006 (35 of 2006), the Central Government, hereby, constitutes a Quality Review Board, consisting of the following persons, namely :- +--------------------------------------------------------------------------------+-------------+------------------------------------------+ | | | | +================================================================================+=============+==========================================+ | Shri Supratim Bandyopadhyay - former Chairperson, PFRDA. | Chairperson | Nominated by the Central Government | +--------------------------------------------------------------------------------+-------------+------------------------------------------+ | Shri Sanjeev Kumar Pujari - former Executive Director, SBI Life Insurance | Member | Nominated by the Central Government | | Company Ltd. | | | +--------------------------------------------------------------------------------+-------------+------------------------------------------+ | Shri G. Ramaswamy - former President, ICAI. | Member | Nominated by the Central Government | +--------------------------------------------------------------------------------+-------------+------------------------------------------+ | Shri Gopal Kumar Vishwanath Roy, Fellow of Institute of Actuaries of India. | Member | Nominated by the Council | +--------------------------------------------------------------------------------+-------------+------------------------------------------+ | Ms. Padmaja Raghunathan, Fellow of Institute of Actuaries of India. | Member | Nominated by the Council | +--------------------------------------------------------------------------------+-------------+------------------------------------------+ 2. Mentioned posts are part-time in nature and tenure of the Chairperson and the Members shall be three years fromthe date of assumption of charge, or until further orders, whichever is earlier. The procedure of the meetings of the Quality Review Board and terms and conditions of service of the Chairperson and the Members of the said Board and their remuneration and allowances shall be as per the Actuaries Quality Review Board (Procedure for Meetings, and the Termsand Conditions of service and Allowances of the Chairperson and Members) Rules, 2008. 3. This Notification shall take effect from the date of its publication in the Official Gazette. [F. No. M-16013/01/2024-Ins. I] PARSHANT KUMAR GOYAL, Jt. Secy.

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