For the first time, the Banks Board Bureau (BBB) will be interviewing eight senior officials of the state-owned Life Insurance Corporation(LIC),in the rank of executive directors(ED), on Jan 4,to select the new chairman and one managing director for the corporation

The senior officials, who have been called for the interview, with over two years of residual services and in order of seniority, are- K. Ganesh, Executive Director(ED), Customer Relationship Management(CRM(,  M R Kumar Zonal Manager(ZM), Delhi, Vipin Anand ZM, Mumbai, TC Suseelkumar, ZM, Hyderabad, MK Gupta ED, Personnel. Raj Kumar CEO, LIC Mtual Fund , HS Sasikumar,  ZM,Bhopal, and S Nallakuttalam.​​​​​​​ 

In the last 15 years, the government has followed the principle of seniority while appointing the chairman of the corporation

Justice Vibhu Bakhru rejected the petition by the All India IDBI Officers Association, which had opposed the move of Life Insurance Corporation (LIC) on the ground that change in shareholding could take away the public sector bank status of IDBI. The association was concerned that taking away public sector status of IDBI could affect the employment conditions of its staff