LIC Appoints Five Independent Directors
The Life Insurance Corporation of India (LIC) has appointed five Independent Directors for a four-year term.
The appointments were approved by LIC’s Board at its meeting held on October 7, 2026. The new Independent Directors are Shailesh Kumar Singh, David Paul Rasquinha, Shyam Srinivasan, Ganesh Kumar Sundara Iyer and Gaurav Kumar. The appointments are effective from October 7, 2026.
Shailesh Kumar Singh is a retired 1991-batch IAS officer of the Jharkhand cadre and last served as Secretary, Rural Development, Government of India. During his tenure, he was involved in the implementation of major programmes including Pradhan Mantri Gram Sadak Yojana, Pradhan Mantri Awas Yojana-Gramin and Deendayal Antyodaya Yojana-National Rural Livelihoods Mission. Previously, he served as Development Commissioner, MSME, and as Joint Secretary in the Ministries of Urban Development and Coal. He has around 35 years of experience across infrastructure, energy, industry, MSMEs, technology and rural development.
David Paul Rasquinha is the former Managing Director and CEO of Export-Import Bank of India (Exim Bank), with more than three decades of experience in export credit, international finance and cross-border project financing. He held several senior positions at Exim Bank and led its international fundraising programme between 2012 and 2021, overseeing nearly USD 10 billion in foreign currency debt issuance. After retirement, he served on the Reserve Bank of India’s Advisory Board on Banking and Financial Frauds and has held independent director roles across financial services and other sectors.
Shyam Srinivasan is a banking and financial services professional with more than three decades of experience in strategy, organisational leadership and business transformation. He served as Managing Director and CEO of Federal Bank from 2010 to 2024, during which the bank expanded its national presence and strengthened its technology capabilities. His experience includes business strategy, risk oversight, stakeholder engagement and digital initiatives, with extensive exposure to Boards, regulators, investors and policymakers.




