The Appointments Committee of Cabinet has approved his appointment to the post for five years, an order issued by Personnel Ministry said.
Agarwal, a 1994 batch IPS officer, is presently working in his cadre state Maharashtra.
He was one of the key members of the team that initially probed multi-crore second generation (2G) spectrum allocation scam.
The ED probes money laundering and cases of foreign exchange violations.
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