2 new LIC MDs appointed; ACC also gives its nod for appointing Ajit Kumar Srivastava and Shabri Bhattasali as CBDT Members

THE Appointments Committee of the Cabinet (ACC) on Monday gave its nod to the appointment of two managing directors of Life Insurance Corporation of India (LICI) and two Members of Central Board of Direct Taxes (CBDT), the apex board under the ministry of finance that formulates polices on direct taxes in India. The two officers who were appointed as LIC MDs are…

B Venugopal, currently an executive director of LIC and Ms Sunita Sharma, also an LIC executive director. Both these officers were appointed for a period of five years from the date of notification of their appointment or till they retire, according to the order. But both the officers would actually retire in 2019. The revised pay scale of an LIC managing director is Rs 2,05,400—Rs 2,24,400 per month.
Based in Mumbai, Venugopal is currently the chief of the western zone of LIC. And Ms Sharma now heads the subsidiary of the insurer-- LIC Housing Finance.

LIC comprises the chairman and four managing directors. The other two managing directors are Usha Sangwan and Hemant Bhargava.

Meanwhile, two senior officers of Indian Revenue Service (Income-Tax) — Ajit Kumar Srivastava and Ms Shabri Bhattasali — were on Monday appointed as Members of Central Board of Direct Taxes (CBDT). Srivastava is a 1980 batch IRS-IT officer whereas Bhattasali is of 1981 batch of the same service.