Govt appoints S Mohanty as LIC’s acting chairperson

The government appointed Siddhartha Mohanty, who is currently serving as the managing director (MD) of Life Insurance Corporation (LIC), as its Acting Chairperson for three months from March 14.

M.R. Kumar, who was the Chairperson of the LIC, completed his term on March 13. “We advise that in view of the completion of term of Kumar as Chairperson of LIC of India, on March 13, 2023, the Ministry of Finance has conveyed the approval of the Competent Authority, for entrusting financial and administrative powers and functions of Chairperson, LIC in the interim to Siddhartha Mohanty, Managing Director,” LIC said in an exchange filing.

“This is in addition to his own duties, for a period of three months, with effect from March 14, 2023, or till assumption of the charge by the regular appointee to the said post, or until further orders, whichever is the earliest,” LIC said.