New Delhi (30.01.2022): The government has extended the tenure of chairman of Life Insurance Corporation (LIC) by one more year with a view to facilitating the smooth listing of the insurance company. With the extension, M R Kumar will continue as chairman of LIC till March 2023, the sources said.
The government has also extended the tenure of one of the managing directors, Raj Kumar, for one year. Raj Kumar was to retire on January 31.
With the extension, M R Kumar will continue as chairman of LIC till March 2023, the sources said.
Notifications in this regard would be issued soon, the sources said.
This is the second extension for the LIC chairman. Last year in June, he was given a nine-month extension in view of LIC’s proposed initial public offering towards the end of the current financial year.
The government had extended the term of M R Kumar from June 30, 2021, till March 13, 2022, the date when he completes three years, the sources said.
