BC Patnaik sworn in as new managing director of LIC
- B C Patnaik has been appointed as the Managing Director of insurance giant Life Insurance Corporation (LIC).
- He has been appointed in place of Mukesh Kumar Gupta, who completed his tenure on September 30, 2021.
- Prior to this appointment, Patnaik served as secretary General at Council for Insurance Ombudsmen(CIO), Mumbai.
- It must be noted that the top management tier of LIC comprise of a Chairman and Four managing directors. The other three MDs are Raj Kumar, Siddhartha Mohanty and Ipe Mini.
- The CEOs and MDs of public sector banks and insurance companies are chosen by the Banks Board Bureau (BBB).
Source: The Times of India