Service: Indian Administrative Service (IAS), 1993 batch, Tripura cadre
Current Position: Secretary, Department of Financial Services (DFS), Ministry of Finance (since August 2024)
🎓 Education & Background
Shri M. Nagaraju holds a Master’s degree in Philosophy from the University of Hyderabad. He served as the President of the Students’ Union during his time at the university. He later pursued further academic development as a visiting fellow at the University of Pennsylvania and a research scholar at Stonehill College in the United States.
🏛️ Administrative Career
Shri Nagaraju has held several key positions both in the state of Tripura and at the central level. His previous roles include:
- District Magistrate in various districts of Tripura
- Principal Secretary in departments such as Health, Finance, Industries & Commerce, and Tribal Welfare
- Adviser to the Executive Director at the World Bank (2008–2012)
- Joint Secretary, Department of Economic Affairs, Ministry of Finance
- Additional Secretary, Ministry of Coal, where he played a major role in auctioning coal blocks and modernizing coal sector governance
đź“Ś Secretary, Department of Financial Services
Appointed as Secretary of the Department of Financial Services in August 2024, Shri Nagaraju leads efforts to strengthen India’s financial institutions and services. His responsibilities include policy formulation for:
- Public Sector Banks
- Non-Banking Financial Companies (NBFCs)
- Insurance and Pension sectors
- Financial inclusion and digital banking reforms
He has emphasized the importance of expanding agricultural and allied sector credit and has urged Public Sector Banks and NABARD to improve lending to farmers and rural entrepreneurs. He has also advocated for legal safeguards for bank employees to ensure uninterrupted financial services across states.
đź“ť Summary
Shri M. Nagaraju is a seasoned bureaucrat with wide-ranging experience in governance, finance, and international development. As Secretary of Financial Services, he plays a crucial role in shaping India’s banking and financial architecture with a focus on reform, inclusion, and resilience.