New Delhi: Life Insurance Corporation of India (LIC) has inducted five new Independent Directors on its Board for a four-year term with effect from October 7, 2026, subject to approval of the members and fulfilment of applicable regulatory requirements.
The appointments were approved by the LIC Board on the recommendations of its Nomination and Remuneration Committee. The new appointees bring diverse experience from public administration, banking, international finance, central banking and financial technology.
The five Independent Directors are:
- Shailesh Kumar Singh is a retired 1991-batch IAS officer of the Jharkhand cadre and former Secretary, Rural Development, Government of India. During his administrative career spanning around 35 years, he handled responsibilities across rural development, infrastructure, energy, industry, MSMEs, urban development and information technology.
- David Paul Rasquinha, former Managing Director and Chief Executive Officer of Export-Import Bank of India (Exim Bank), brings more than three decades of experience in export credit, international finance and cross-border project financing. His career has included work in international fundraising and large-scale project finance.
- Shyam Srinivasan, who served as Managing Director and Chief Executive Officer of Federal Bank from 2010 to 2024, has extensive experience in banking and financial services. His areas of expertise include business strategy, organisational transformation, governance, risk management and financial-sector leadership.
- Ganesh Kumar Sundara Iyer, a former Executive Director of the Reserve Bank of India, has over three decades of experience in central banking and financial infrastructure. His professional expertise covers payment and settlement systems, information technology, cybersecurity and financial market infrastructure.
- Gaurav Kumar, Founder and Chief Executive Officer of Yubi Group, brings more than two decades of experience in banking and financial technology. He previously co-founded Vivriti Capital and Vivriti Asset Management and has worked extensively in building technology-led financial services businesses.
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