New Delhi:

The government on Thursday has cleared the appointments of Raj Kumar, executive director, Life Insurance Corporation and  Mukesh G Gupta, ED, LIC as the managing directors of the corporation.


The appointment  committee of the Cabinet (ACC) has approved the proposal of  Department of Financial Services for Kumar and Gupta as MDs  of  LIC ,’’  said a communication from Ministry of Finance.


Gupta will be retiring on Sept 30, 2021 while Raj Kumar will be calling it a day on 31 Jan , 2022.


The Bureau of Banking Board(BBB), an exclusive body to choose  the CEOs of public sector banks  and insurance companies, on  Aug 27,. had conducted  the interviews  of senior officialsof the  LIC and  the public sector general insurance industry,for selecting CMDs of  GIC Re , Agriculture Insurance Company(AIC) and two MDs of LIC  and had selected Raj Kumar and Gupta  as the MDs of LIC and Devesh  Srivastav and Malay Podday as the CMD of GIC Re and AIC respectively.


“The appointments of Srivastav and Poddar will be notified soon,’’ said MoF sources.


 With the appointment of Raj Kumar and Gupta,,the  government has filled up all the posts – four- of MDs at LIC, LIC already has two Managing Directors Shri T C Susheel Kumar & Shri Vipin Anand.


Prior to taking over this charge, Gupta was ED (Personnel) and earlier to that he was Zonal Manager(I/C), Central Zone, Bhopal.


Kumar has varied experience and served the corporation in important positions such as ED(International Operations), CEO , LIC Mutual Fund Asset Management Ltd, Zonal Manager (I/C), Central Zone, Bhopal, ED(HRD-OD),