Shri Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance, Government of India

## Report on Appointments to Boards of Governors and Governing Councils **1. Executive Summary:** This report analyzes a series of notifications from the Ministry of Finance, Department of Economic Affairs, regarding the appointment of Shri Ajay Seth, Secretary, Department of Economic Affairs, as India's representative on the boards and councils of several international financial institutions. This is effectively a personnel change policy, replacing Shri Tarun Bajaj with Shri Ajay Seth, effective April 16th, 2021, in various governance roles. The key finding is the consistent shift in representation across multiple international bodies, suggesting a coordinated personnel decision. **2. Introduction:** This report provides an overview and analysis of notifications published by the Ministry of Finance, Department of Economic Affairs, pertaining to appointments within international financial institutions. The report aims to inform stakeholders about these changes and their potential implications. The analysis is based solely on the provided official gazette text. **3. Policy Overview:** This is a change notification, appointing a new representative for India on multiple international financial bodies. * **Core Objective:** The core objective, based on the text, is to officially appoint Shri Ajay Seth as India's representative (Governor or Alternate Governor) on the boards/councils of the African Development Bank (AFDB), the Asian Infrastructure Investment Bank (AIIB), the European Bank for Reconstruction and Development (EBRD), the International Fund for Agriculture Development (IFAD), and the New Development Bank (NDB), replacing Shri Tarun Bajaj. **4. Background and Rationale:** This is a notification of personnel changes. The underlying reason for replacing Shri Tarun Bajaj with Shri Ajay Seth is not explicitly stated in the document. It can be inferred that this change is part of a broader administrative decision regarding India's representation in these international organizations. The appointment likely reflects a strategic decision by the Government of India regarding its engagement with these institutions. **5. Key Provisions / Changes:** This document details *amendments* to India's representation in several international financial institutions. The key change being introduced by the provided notifications is: * **Specific Part of Original Policy Being Changed:** The appointment of representatives. * **New Rule/Provision:** Shri Ajay Seth is appointed as India's Alternate Governor/Governor in the following institutions, replacing Shri Tarun Bajaj, effective April 16, 2021: * African Development Bank (AFDB) - Alternate Governor * Asian Infrastructure Investment Bank (AIIB) - Alternate Governor * European Bank for Reconstruction and Development (EBRD) - Alternate Governor * International Fund for Agriculture Development (IFAD) - Governor * New Development Bank (NDB) - Alternate Governor * **Difference/Effect of the Change:** This change replaces the existing representative (Shri Tarun Bajaj) with a new representative (Shri Ajay Seth). The effect is a change in personnel who will be representing India's interests and participating in the governance of these international financial institutions. **6. Target Audience and Stakeholders:** The target audience and stakeholders directly affected by these changes include: * Shri Ajay Seth (the newly appointed representative) * Shri Tarun Bajaj (the previous representative) * The Department of Economic Affairs, Ministry of Finance, Government of India. * The African Development Bank (AFDB) * The Asian Infrastructure Investment Bank (AIIB) * The European Bank for Reconstruction and Development (EBRD) * The International Fund for Agriculture Development (IFAD) * The New Development Bank (NDB) * Indian entities that work with or benefit from these organizations. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Department of Economic Affairs, Ministry of Finance, Government of India is responsible for these appointments. * **Timelines/Procedures:** The appointments are effective from April 16th, 2021, as stated in the notifications. Further procedures for assuming the roles within each institution would likely be governed by the internal regulations of each respective bank/fund. * **Implementation Aspects Specific to Changes:** The immediate implementation involves notifying the respective international organizations of the change in India's representation. Shri Ajay Seth would then need to be integrated into the governance structures of each institution. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of these specific changes is to ensure continued and effective Indian representation in the governance of these international financial institutions. The impact of the change will depend on Shri Ajay Seth's engagement and contributions in these roles. A change in representative could lead to shifts in priorities, influence, or strategy within each institution, although the provided text offers no basis for predicting the direction of such changes. **9. Conclusion:** The notifications detail a coordinated replacement of India's representative across five significant international financial institutions, with Shri Ajay Seth succeeding Shri Tarun Bajaj. The significance lies in maintaining active Indian participation and influence in these organizations, which are crucial for international development and infrastructure finance. While the document itself is purely administrative, the underlying decision reflects the Government of India's strategic approach to engaging with the global financial landscape.

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