Central Government Nominates Shri Sanjay Lohiya as New Director on LIC Board
Life Insurance Corporation of India (LIC) has seen a change in its Government Nominee Director, as the Central Government nominated Shri Sanjay Lohiya to the board. The nomination, effective May 13, 2026, replaces Ms. Shalini Pandit in the role.Shri Sanjay Lohiya, Special Secretary in the Department of Financial Services, Ministry of Finance, has been nominated as the Government Nominee Director on the Board of Life Insurance Corporation of India. This appointment is effective immediately and continues until further orders.
With this change, Ms. Shalini Pandit ceases to be the Government Nominee Director with effect from May 13, 2026. Consequently, she also ceases to be a member of the Executive Committee, Nomination & Remuneration Committee, Audit Committee, and Risk Management Committee.
Details of the New Appointment
Shri Sanjay Lohiya, an IAS Officer of the 1994 batch (Assam Meghalaya cadre), currently serves as the Special Secretary in the Department of Financial Services, Ministry of Finance. His professional background includes various roles, helping him implement several reforms in the mining sector.Key details regarding his appointment include:
| Particulars | Information |
|---|---|
| Reason for Change | Appointment of Shri Sanjay Lohiya as Government Nominee Director. |
| Effective Date/Term | With effect from May 13, 2026, and until further orders. |
| Profile Highlights | Shri Lohiya previously served as Additional Secretary in the Ministry of Mines. He has experience in promoting private sector exploration, fast-tracking mineral concession auctions, and enhancing ease of doing business in the mining sector. He was also assigned duties for the post of Chairman-cum-Managing Director, NALCO from 02.11.2024 to 08.01.2025. |
| Relationship Disclosure | Shri Sanjay Lohiya is not related to any other Director of the Corporation. |
| Debarment Status | Shri Lohiya is not debarred from holding the position of Director. |
Cessation of Ms. Shalini Pandit
The transition also marks the cessation of Ms. Shalini Pandit's role as Government Nominee Director. The change is effective from May 13, 2026.| Particulars | Details |
|---|---|
| Reason for Change | Cessation as per the notification issued by the Government of India. |
| Date of Cessation | May 13, 2026. |
| Profile | Not Applicable. |
LICI Stock Price Movement
On Wednesday, Life Insurance Corporation Of India shares edged higher to close at ₹787.05, gaining 0.95% for the session. The equity finished the day on steady footing, supported by robust trading volume of 882,880 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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