Mr. Kumar likely to become LIC chairman

Mr. Kumar, currently serving as an executive director at Life Insurance Corporation (LIC), is likely to take over as chairman of the state-run insurance major. Mr. Kumar is the zonal manager for Delhi as well. He has held positions as executive director of pension and group schemes at the central office, Mumbai, besides looking after social security schemes of the government. A senior official with the Banks Board Bureau, which was involved in the selection process, confirmed that Mr. Kumar was shortlisted for the post of chairman.

Mr. Kumar’s appointment might be delayed because of the model code of conduct for the upcoming general elections, said two officials aware of the developments.

Acting chairman Mr. Hemant Bhargava could, in such a situation be given, an extension of three months. Now a managing director with the insurer, Mr. Hemant Bhargavais set to retire in july.