The government has appointed Mr Siddhartha Mohanty, who currently serves as the managing director of Life Insurance Corporation (LIC), as its acting chairperson for three months from tomorrow.
Mr M R Kumar, who is the chairperson of the LIC, will complete his term today.
LIC said in an exchange filing, “We advise that in view of the completion of term of Kumar as chairperson of LIC of India, on 13 March 2023, the Ministry of Finance has conveyed the approval of the competent authority, to entrust financial and administrative powers and functions of chairperson, LIC, in the interim to Siddhartha Mohanty, managing director,”.
“This is in addition to his own duties, for a period of three months, with effect from 14 March 2023, or till assumption of the charge by the regular appointee to the said post, or until further orders, whichever is the earliest,” LIC said.
The Financial Services Institutions Bureau is expected to finalise the name of the new chairperson for LIC in the coming weeks.
