Bansal, at present, is serving as the Chairman and Managing Director of the national passenger carrier Air India.
Previously, he has also served as Financial Advisor to the Petroleum and Natural Gas Ministry.
He will succeed Pradeep Singh Kharola, who is due to retire by end of the month.
Bansal is a 1988 batch IAS officer from the Nagaland cadre. He has earlier had a stint with the Ministry of Civil Aviation (MoCA) between 2006 and 2008.