Who will be the next MD of LIC? FSIB to conduct interview on 11th June

The hunt for new CEO for LIC is going to be over soon. As per reports, FSIB will conduct interview of 4 people for the post of MD&CEO on 11th June 2025.

The government has temporarily appointed Sat Pal Bhanoo as the acting MD and CEO (Chief Executive Officer) of LIC for three months. He is currently working as Managing Director (MD) at Life Insurance Corporation (LIC).

Now as per reports, Financial Services Institutions Bureau (FSIB) will be holding interviews on June 11 to select the permanent MD and CEO of LIC. FSIB is the official agency responsible for choosing senior leaders for government-owned financial organizations.

The Four current MDs from LIC will be interviewed for the top position. These are:

• Sat Pal Bhanoo
• Ramachandran Doraiswamy
• Dinesh Pant
• Ratnakar Patnaik

The previous MD and CEO, Siddartha Mohanty, retired last Friday after turning 62 — which is the retirement age.

Among the four candidates, Sat Pal Bhanoo is the most senior and has good chances of being selected for the permanent role. He will retire in December 2025 when he turns 60, so if chosen, he could serve for more than two years.

Historically, over the last 25 years, the government has mostly followed seniority (choosing the most senior person) when selecting LIC’s top leaders, with very few exceptions.

Two of the other candidates, Dinesh Pant and Ratnakar Patnaik, were promoted to MD positions only recently, on June 1.

LIC announced to the stock exchanges that Sat Pal Bhanoo has been given full powers and responsibilities of the MD and CEO starting from June 8 to September 7, or until a new MD and CEO is officially appointed — whichever comes first.