New Delhi, Aug 21 (IANS): Former Finance Secretary Rajiv Kumar, who implemented much of PM Narendra Modi's pet projects of financial inclusion, was on Friday appointed an Election Commissioner, in place of Ashok Lavasa.

A 1984 batch Jharkhand cadre IAS officer, Rajiv Kumar will take charge "with effect from with the date he assumes office vice Ashok Lavasa, Election Commissioner who has resigned with effect from 31st August, 2020," according to a notification by the Ministry of Law and Justice.

Lavasa had on Tuesday sent his resignation as Election Commissioner to the President, as he has been selected as Vice President of the Asian Development Bank.

Only this April, the Appointments Committee of the Cabinet had approved Rajiv Kumar's appointment as the Public Enterprises Selection Board Chairperson for a period of three years.

Rajiv Kumar has often been credited with bringing in reforms in banking as well as in the bureaucracy during his stints in the Finance Ministry and the Ministry of Personnel respectively. He is believed to have played a key role in merging 10 public sector banks into four.

Before taking over as the Finance Secretary, he earned the government's trust by playing a key role in implementing Modi's flagship schemes such as Pradhan Mantri Jan Dhan Yojana, Mudra loan scheme, among others.