Govt extends tenure of IPO-bound LIC's chairman for 1 year

With the extension, M R Kumar will continue as chairman of LIC till March 2023, the sources said.

 New Delhi: The government has extended the tenure of chairman of IPO-bound Life Insurance Corporation (LIC) by one more year with a view to facilitating smooth listing of the insurance behemoth, sources said. Besides, the government has also extended the tenure of one of the managing directors, Raj Kumar, for one year. Raj Kumar was to retire on January 31.

With the extension, M R Kumar will continue as chairman of LIC till March 2023, the sources said.

Notifications in this regard would be issued soon, the sources said.