An­july Chib Dug­gal

An­july Chib Dug­gal has been the driv­ing force be­hind sev­eral big ini­tia­tives of the govern­ment.

Business Today - - CONTENTS - By DI­PAK MONDAL

In­her two-year stint as Sec­re­tary, De­part­ment of Fi­nan­cial Ser­vices, Min­istry of Fi­nance, An­july Chib Dug­gal has over­seen sev­eral big ini­tia­tives. But her last few months in of­fice – she re­tired in Au­gust 2017 – were, per­haps, the most ac­tion-packed. She was lead­ing the govern­ment’s ef­forts to re­solve the NPA dead­lock. One of the many big steps taken to­wards that was the im­ple­men­ta­tion of the NPA or­di­nance passed in May this year. Her de­part­ment was also spear­head­ing the govern­ment’s en­deav­our in pop­u­lar­is­ing a cash­less pay­ment sys­tem in the coun­try post de­mon­eti­sa­tion.

While her con­tri­bu­tion to th­ese ini­tia­tives is well-known, she had also been in­con­spic­u­ously work­ing on other equally im­por­tant govern­ment poli­cies from the Jee­van Deep Build­ing on Sansad Marg, away from the North Block, which houses all other de­part­ments of the Fi­nance Min­istry.

Dug­gal and her de­part­ment were in­stru­men­tal in car­ry­ing out the merger of State Bank of In­dia ( SBI) with its as­so­ciate banks – State Bank of Bikaner & Jaipur, State Bank of Hy­der­abad, State Bank of Mysore, State Bank of Pa­tiala and State Bank of Tra­van­core. She also over­saw the merger of Bhar­tiya Mahila Bank with SBI.

Su­per­vis­ing the in­fu­sion of `25,000 crore into 19 pub­lic sec­tor banks ( PSBS) dur­ing FY 2015/16 and the al­lo­ca­tion of `22,915 crore to 13 PSBS in FY 2016/17 was one of the most sig­nif­i­cant tasks that her de­part­ment ac­com­plished in the past two years. Dug­gal also played a cru­cial role in the for­ma­tion of the Banks Board Bu­reau – of which she is a mem­ber – formed to re­form strug­gling PSU banks as part of the govern­ment’s In­drad­hanush Plan.

A 1981 batch IAS of­fi­cer, Dug­gal was Sec­re­tary in the Min­istry of Cor­po­rate Af­fairs ( MCA) be­fore tak­ing charge of the de­part­ment of fi­nan­cial ser­vices. Apart from over­see­ing the in­tro­duc­tion of the new Com­pa­nies Act, she has also re­solved thorny is­sues like in­te­grat­ing the Na­tional Com­pany Law Tri­bunal with the Bank­ruptcy Law, dur­ing her stint as Sec­re­tary, MCA. ~

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