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While there was speculation that Kumar will get one more extension, the government decided to go for a new Chairperson.
The Financial Services Institutions Bureau (FSIB) has recommended Siddhartha Mohanty as the Chairperson of Life Insurance Corporation (LIC).
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Mohanty is currently Acting Chairperson of LIC. The FSIB interviewed four candidates. “Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommends Mohanty for the position of Chairperson in LIC,” FSIB said. Mohanty will come in in place of M. R. Kumar who completed his term on March 13. LIC is the largest financial institution in the country with total assets under management of over Rs 41.66 lakh crore (as of September 2022).
While there was speculation that Kumar will get one more extension, the government decided to go for a new Chairperson.
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