Siddhartha Mohanty appointed as new LIC MD

In a notification issued on Tuesday, the appointments committee of the cabinet (ACC) has approved the appointment of Siddhartha Mohanty till his superannuation on June 30, 2023.

The government has appointed KIC Housing Finance chief executive officer (CEO) Siddhartha Mohanty as the managing director of Life Insurance Corp. (LIC) with effect from February 1.

Siddhartha Mohanty will replace TC Susheel Kumar as the managing director of Life Insurance Corp (Ramesh Pathania/Mint.)

In a notification issued on Tuesday, the appointments committee of the cabinet (ACC) has approved the appointment of Mohanty till his superannuation on June 30, 2023.

Mohanty will replace TC Susheel Kumar who is set to retire on January 31, 2021.

“ The Appointments Committee of the Cabinet (ACC) has approved the proposal of the department of financial services for appointment of Shri Siddhartha Mohanty, CEO,LIC Housing Finance as MD, LIC, in the pay scale of Rs.205,400 – Rs.224,400 with effect from the date of his assumption of charge of the post on or after 01.02.2021 and upto the date of his superannuation or until further orders, whichever is earlier”, the government notification said.