New Delhi: The Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi approved the appointment of Rajiv Kumar, who is currently serving as Financial Services Secretary, as the new Finance Secretary, an official order said on Tuesday.

Kumar is a 1984-batch IAS officer of Jharkhand cadre.
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Kumar is credited with ushering in multiple reforms in the banking sector and providing a record amount of capital infusion in public sector banks.

His appointment comes in the backdrop of Subhash Chandra Garg's appointment as Power Secretary. Meanwhile, after the reshuffle was announced, Garg sought voluntary retirement from service.