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Current Affairs - 2022
How long has LIC Chairman MR Kumar extended his tenure?
A)
March 2023
B)
March 2024
C)
March 2025
D)
March 2026

Correct Answer : Option (A) - March 2023


This is the second time he has got an extension as the insurance behemoth’s Chairman
 
In an apparent bid to successfully complete the proposed mega LIC initial public offering (IPO), the Centre on Sunday(30th Jan 2022) extended the term of the incumbent Chairman MR Kumar by one more year. 
 
This is expected to ensure continuity at leadership level and provide comfort to key institutional investors — who are looking to participate in the IPO — about stability at the Board level post the IPO and even if the proposed mega offering gets delayed beyond March 2022. 
 
The Centre also extended the tenure of Raj Kumar, Managing Director of LIC, by one year beyond January 31. This is the second extension for MR Kumar, whose term was to end on June 30 last year, but was given a nine-month extension until March 13 this year, when he is due to complete three years as Chairman.  Now his term has been extended till March 13,2023, sources said. 
 
These extensions has been done as a one time measure and cannot be quoted as precedent, according to the decision taken by the Appointments Committee of the Cabinet.

Source : The Hindu Business Line

Published On : January 31, 2022
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