The government, on Wednesday, has appointed MR Kumar, former chairman of Life Insurance Corporation(LIC), as a part-time non-official director as well as non- executive chairman of Bank of India for a term of three years. Kumar had completed his term as the LIC chairman in March 2023. He was also chairman of IDBI Bank as LIC is the majority shareholder of the bank. Kumar’s term as LIC chairman was extended twice.
Former LIC chairman MR Kumar appointed as non- executive chairman of Bank of India
