CURRENT AFFAIRS

Detailed explanation-1: -The Appointments Committee of the Cabinet (ACC) has approved the appointment of Siddhartha Mohanty as the new Managing Director of the Life Insurance Corporation (LIC) of India. Hence, Option 1 is correct. He is currently serving as the Managing director (MD) and chief executive officer (CEO) of LIC Housing Finance .

Detailed explanation-2: -LIC’s board of directors comprises Chairman (now M.R. Kumar) and Managing Directors Vipin Anand, T.C., Suseel Kumar, Mukesh Kumar Gupta, and Rajkumar. LIC is headquartered in Mumbai and is home to the Chairman, all four Executive Directors, and all Executive Directors (department heads).

Detailed explanation-3: -Exclusive Conversation With Y Viswanatha Gowd MD & CEO Of LIC Housing Finance | Zee Business.

Detailed explanation-4: -Currently, LIC has a chairman and four managing directors. Insurance behemoth LIC on Friday said B C Patnaik has taken charge as the managing director (MD) of the company. He was appointed as Managing Director vide a government notification dated July 5, 2021, LIC said in a statement.

Detailed explanation-5: -Besides, the government has also extended the tenure of one of the managing directors, Raj Kumar, for one year. With the extension, M R Kumar will continue as chairman of LIC till March 2023, the sources said. This is the second extension for the LIC chairman.