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The Centre has appointed Mr Shashikant Sharma as Secretary in the Department of Financial Services in the Finance Ministry.
A 1976 batch Indian Administrative Service (IAS) officer of Bihar cadre, Mr Sharma was Secretary, Information Technology prior to the latest appointment.
A formal order appointing Mr Sharma as Secretary, Department of Financial Services, has been issued, official sources said.
Prior to serving in the Department of Information Technology, Mr Sharma had worked in the Defence and Urban Affairs Ministries.
Mr Sharma is expected to assume charge as Secretary of Department of Financial Services on Monday. He will succeed Mr R. Gopalan who has now been elevated as Secretary in the Department of Economic Affairs in the Finance Ministry.
High expectations
Mr Sharma will assume charge at a time when expectations are high that the Government will, in the upcoming Budget session, bring about legislative changes in the financial services space, especially in areas such as pension and insurance.
There are also issues such as firming up the size of the SBI rights offering and another round of recapitalisation of banks that will get the focused attention of the Department of Financial Services in the coming days.
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