New Delhi: Rajiv Kumar, currently serving as Financial Services Secretary, was on Tuesday designated as the new Finance Secretary. The Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi approved the designation of Kumar as the new Finance Secretary, according to an official order. Kumar is a 1984 batch IAS officer of Jharkhand cadre. The designation of Kumar as the Finance Secretary comes in the backdrop of transfer of Subhash Chandra Garg as the power secretary. Garg has already sought voluntary retirement from service.