Rakesh Singh, Additional Secretary, Department of Financial services would hand over his responsibilities to Mehrotra
Mumbai: Dinesh Kumar Mehrotra, Managing Director of Life Insurance Corporation of India was appointed as acting chairman of LIC on Thursday for a period of three months or till further orders, whichever is earlier. Mehrotra will take over the charges from Rakesh Singh, Additional Secretary who also held charge for nearly three weeks after former Chairman T S Vijayan's term came to an end on May 3.
Mehrotra was also a contender for the chairman's post in 2006. He joined LIC as a direct recruit in 1977 and was Executive Director for international operations before becoming a Managing Director in July 2005.
The Government had formed a committee, headed by R Gopalan, Secretary, Department of Economic Affairs of the Ministry of Finance, to select the next chairman. The other candidate for the top job is reportedly Thomas Matthew, who is junior to Mehrotra. There has been uncertainty over the top position at LIC after Vijayan's five-year term came to an end.