The government has appointed Hemant Bhargava, Managing Director, Life Insurance Corporation of India, as the Acting Chairman.
The move comes after VK Sharma retired from the top job at LIC on December 31. While traditionally the senior-most MD is appointed the chairman, Bhargava is due to retire in July 2019.
Source- The Hindu Business Line
Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:
- Life Insurance in its modern form came to India from England in the year 1818.
- Oriental Life Insurance Company started by Europeans in Calcutta was the first life insurance company on Indian Soil.
- LIC Headquarters in Mumbai.