Addressing a press conference, Singh, who is the Congress nominee from Bhopal Lok Sabha constituency, expressed apprehensions that LIC might not be able to return money of policy holders if the current situation continues.

The two other posts MDS will also fall vacant in couple of months as B Venugopal and Hemant Bhargava will be retiring in May 2019 and  July 2019 respectively and the the Banks Board Bureau (BBB) is likely to conduct the interviews of senior officials of the corporation after the elections are over in May end.  .

The floor price for the sale has been fixed at Rs 300 apiece.The sale offer will be open for non-retail investors on March 26 and close on the same day. For retail investors, the date has been fixed as March 27.

T.C.Suseel Kumar has also taken charge as one of the Managing directors of LIC today while Vipin Anand will be taking over as one of the MDS after Sunita Sharma retires on March 31

In a late evening move the Department of Personnel and Training( DOPT) has also notified the appointment of TC Suseelkumar, ZM, Hyderabad, Vipin Anand as the managing directors of the corporations.This is the second time in the last 18 years when an executive director has been directly appointed as the chairman, on par with a secretary of the Government of India, of the corporation.

A sell down of  4.93 per cent by the Standard Life would help the HDFC Life increase it’s public float to 24.2 per cent which is a step closer to IT achieving Minimum Public Shareholding (MPS) prescribed by SEBI. The SEBI Listing Regulations mandates all listed companies to achieve MPS of 25 per cent within 3 years of listing. At present, Standard Life holds 29.2 per cent stake in the life insurance company while HDFC, the majority stakeholder, has 51.5 per cent stake. After the stake sale, Standard Life’s shareholding in HDFC Life will come down to 24.27 per cent.