Centre extends tenure of LIC Chairman M R Kumar by one year till March 2023

Centre extends tenure of LIC Chairman M R Kumar by one year till March 2023

• The government had extended the tenure of M R Kumar, the Chairman of IPO-bound Life Insurance Corporation (LIC) by one year, till March 2023.
• M.R.Kumar took charge as Chairman of LIC on March 14, 2019.
• This is the second extension given to Mr. Kumar. Prior to this, he was given a nine-month extension on June 30, 2021, till March 13, 2022.
• The government is looking to list LIC during the current financial year, ending March 31, 2022.
• So in order to facilitate LIC’s proposed initial public offering (IPO) smoothly towards the end of the current financial year, the decision to grant the extension has been taken.

Points to Remember:

1. Centre has extended the tenure of Chairman of LIC by how many year or till which year?
2. Who is the Chairman of LIC?
3. LIC headquarter-Mumbai
4. Authorised Capital of LIC?- Rs 25,000 Crore

Source: Business Standard