Who is Siddhartha Mohanty, appointed as LIC interim chairman? Know his monthly salary

The government has appointed Siddhartha Mohanty as the interim chairman of Life Insurance Corporation of India (LIC). He has been appointed for the post for three months starting March 14, 2023. Presently, MR Kumar is serving as the chairman of LIC.

Who is Siddhartha Mohanty? He is currently the Managing Director and Chief Executive Officer (CEO) of LIC Housing Finance, one of the largest housing finance companies. He will continue to carry out his existing duties apart from being the interim chairman.

He was also appointed as the MD of LIC on February 1, 2021, till his superannuation on June 30, 2023. He was appointed the MD in the pay scale of Rs 205,400 – Rs 224,400. 

Before this, he was the company’s Chief Operating Officer (COO). Mohanty started his career as a direct recruit officer with LIC in 1985. He has risen through the ranks to this senior position. 

Mohanty is a Post Graduate in Political Science with a degree in Law. He also holds a post-graduation in Business Management and a Licentiate from the Insurance Institute of India.

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Before joining LIC Housing Finance, he was Executive Director- Legal with LIC of India. In a career spanning over three decades in the Corporation, Mohanty has made his mark in the areas of Marketing, HR, Investments and Legal.

For the unversed, LIC has four MDs and one chairman. The four MDs are -- Bishnu Charan Patnaik, Ipe Mini, Siddhartha Mohanty, and Raj Kumar.