IDBI Bank Board appointed Shri R. Doraiswamy, MD (LIC) as Nominee Director for three years

IDBI Bank, through an exchange filing, has announced that the board has approved the appointment of Shri R. Doraiswamy as LIC Nominee Director of the Board.

This is to inform that the Board of Directors at their meeting held on February 21, 2025, approved the appointment of Shri R. Doraiswamy, Managing Director of LIC as LIC Nominee Director on the Board of the Bank w.e.f. May 19, 2025 for three years, in place of Shri Raj Kumar, whose three-year term ends on May 18, 2025, as per the nomination letter received from LIC in this regard, as per the filing made.

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Shri R. Doraiswamy Shri R. Doraiswamy is a Graduate of Mathematics from Madurai Kamaraj University, a Fellow Member of the Insurance Institute of India, and a student member of the Institute of Actuaries of India.

He is a direct recruit officer of the 17th batch of LIC with more than 38 years of rich and diverse experience in operations, marketing, technology, and academics.

Before taking charge as Managing Director, Shri R. Doraiswamy has held various positions like Executive Director (IT/SD) and Chief (IT/SD) at CO, Mumbai; Regional Manager (Mktg./CLIA) and Regional Manager (P&GS) at SZO, Chennai; Sr. Divisional Manager (I/c)(Mktg.); Divisional Office, Kottayam; Marketing Manager of Divisional Office, Chennai DO-I; Thanjavur; and Pune.

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He was deputed to the National Insurance Academy as a Research Associate during the period 1999 to 2004 and has worked on various projects on microinsurance, Insurance Law and Regulations, Product Development and content development for postgraduate programs in Insurance management/chartered financial planning, etc.

He was instrumental in the rollout of eFEAP Next, the centralization of ULIP systems, the automation of repetitive processes, etc., as Chief (IT/SD). Shri Doraiswamy is currently the Chairperson of LIC HFL Care Homes Ltd. in addition to serving as Managing Director on the LIC Board.

He is also on the boards of the National Commodity & Derivatives Exchange Limited (NCDEX), LIC (Lanka) Limited & Bima Sugam India Federation, as well as the trustee of the LIC Golden Jubilee Foundation & LIC of India Provident Fund No. 1.  Shri Doraiswamy is also a member of the Governing Body of the National Insurance Academy.

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