V K Sharma takes additional charge as LIC Chairman
Posted on: 22 Sep 2016 09:30:17
22 September 2016 Current Affairs: State-run life insurance behemoth LIC said managing director V K Sharma has taken additional charge as chairman, replacing S K Roy who was relieved of his duties. Roy resigned in June, nearly two years ahead of his retirement.
Sharma has been serving as the managing director of the company since November 2013. Having joined the body as a direct recruit officer in 1981, Sharma has served as the chief executive of its mortgage subsidiary LIC Housing Finance and zonal manager in charge of the south zone.
Roy, appointed by previous UPA government, had resigned nearly two years ahead of completion of his five-year term. He was serving as the chairman since June 2013.
The exact reasons for his sudden exit have not been ascertained yet. Sources had said he had made similar request some months ago but the Finance Ministry asked him to reconsider that.
Roy joined Life Insurance Corporation of India in 1981. On May 31, 2013, he assumed charge as Managing Director of LIC. Prior to his elevation, he was head of the International Operations division.
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