R Chander Recommended as MD of LIC by FSIB

New Delhi, Sep 30 (PTI) FSIB, the headhunter for directors of state-owned banks and financial institutions, on Tuesday recommended R Chander for the post of Managing Director of insurance behemoth LIC.

The Financial Services Institutions Bureau (FSIB) interviewed five candidates for the positions, it said in a statement.

"Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommends R Chander for the position of MD in LIC," it said.


LIC has four managing directors besides CEO and MD who heads the life insurance giant.

The final decision on the FSIB recommendations would be taken by the Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi.

The FSIB is headed by Bhanu Pratap Sharma, former secretary, Department of Personnel and Training (DoPT).

Other members of the headhunter are the secretary, Department of Financial Services, secretary, Department of Public Enterprises, IRDAI member, former LIC managing director Usha Sangwan and former Oriental Insurance managing director A V Girija Kumar.