Siddhartha Mohanty shortlisted for the position of President of LIC, Call Center

Siddhartha Mohanty shortlisted for the position of President of LIC, Call Center

The Government in 2021 extends the retirement age of LIC Chairman to 62

New Delhi:

The Financial Services Institutions Office (FSIB), the headhunter for directors of state-owned banks and financial institutions, on Thursday selected Siddhartha Mohanty as its head of the insurance company. giant LIC.

According to the guidelines, the chairman is selected from the company’s four executives.

After interviewing four candidates based on their overall experience and existing parameters on March 23, 2023, the FSIB recommended Siddhartha Mohanty for the position of LIC President of India, the bureau said in a statement. declare.

Currently, Siddhartha Mohanty, chief executive officer of LIC, is acting chairman of the country’s largest life insurance company after Mr. Kumar’s term ends on March 13, 2023.

The final decision on the FSIB’s recommendation will be made by the Cabinet Appointments Committee headed by Prime Minister Narendra Modi.

Mohanty would have retired on June 30, 2023 had he not been selected by the FSIB.

However, as president of the LIC, he will serve until age 62.

The government in 2021 extended the superannuation age of the LIC Chairman to 62 years by amending the Life Insurance Corporation of India (Employees) Regulations, 1960.

The changes are made in the rules known as the Life Insurance Corporation of India (Employees) Revised Rules, 2021.

It should be noted that the retirement age of top executives of the majority of PSUs is 60 years, with a few exceptions, including State Bank of India (SBI).

The FSIB, a six-member board, is headed by former secretary of the Department of Personnel and Training (DoPT), Bhanu Pratap Sharma.

Other members of the headhunter are the Minister of Financial Services, the Minister of Public Enterprises, IRDAI Chairman Debasish Panda, former LIC CEO Usha Sangwan and former Oriental Insurance Director AV Girija Kumar.

(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)


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