Shri Raj Kumar, a veteran of the life insurance industry, has completed his term as LIC Nominee Director on the Board of IDBI Bank Limited, effective May 18, 2025. With over four decades of strategic leadership and operational experience, Mr. Kumar has had a distinguished career in the insurance sector. He joined LIC in 1984 as an apprentice officer and has held various key positions, including Managing Director of LIC, Chief Executive Officer of LIC Mutual Fund Asset Management Limited, and Zonal Manager of Bhopal, among others.
Throughout his career, Mr. Kumar has demonstrated expertise in human resources, marketing, business management, administration, and corporate governance. His notable achievements have been recognized with awards, including the “Most Influential Human Resource Officer in Asia” by CHRO Asia. He has also served as Senior Divisional Manager of Gorakhpur and Jaipur divisions of LIC, and as Executive Director (Estate and Office Services) in Mumbai.
As a seasoned professional, Mr. Kumar brings a wealth of knowledge and experience to the table. His contributions to the insurance industry have been significant, and his leadership has been instrumental in shaping the direction of various organizations. His departure from the Board of IDBI Bank Limited marks the end of an era, and his legacy is expected to continue inspiring future generations of leaders in the industry.
The notification of Mr. Kumar’s departure was made through an exchange filing, and his term has come to an end as per the bank’s regulations. The bank has not announced a replacement for Mr. Kumar, and it is expected that a new nominee director will be appointed in due course. Mr. Kumar’s experience and expertise will be missed on the Board of IDBI Bank Limited, but his contributions to the industry will continue to be felt for years to come.