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How many Managing Directors (MD) has the Government appointed to Life Insurance Corporation of India (LIC)?
A)
One
B)
Two
C)
Three
D)
Four

Correct Answer :   Two


The government has appointed M Jagannath and Tablesh Pandey as Managing Directors of Life Insurance Corporation of India (LIC).


* M Jagannath took the charge as MD on March 13, 2023.

* Before this, he was working as the Zonal Manager of South Central Zone, Hyderabad and While Tablesh Pandey is an Executive Director at the Central office of LIC in Mumbai and will take charge on April 1, 2023.

* Pandey will replace present managing director B C Patnaik.

* The Appointments Committee of the Cabinet (ACC) has approved the appointments, according to a circular issued by the Department of Personnel and Training.

* The government had last week appointed Siddhartha Mohanty, who is currently serving as the managing director (MD) of LIC, as its Acting Chairperson for three months from 14th March 2023.

* Jagannath is currently Zonal Manager, South Central Zone, Hyderabad while Pandey is Executive Director, Central office, Mumbai. Apart from Mohanty, currently LIC has two MDs – Mini Ipe and BC Patnaik. Patnaik will retire by the end of March.

* The Financial Services Institutions Bureau (FSIB) is expected to finalise the name of the new Chairperson for LIC in the coming weeks. Mohanty is considered as the frontrunner for the Chairperson post.

* LIC is the largest financial institution in the country with total assets under management (AUM) of over Rs 41.66 lakh crore (as of September 2022)..

Source : Indian Express

Published On : March 15, 2023
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