Govt extends tenure of IPO-bound LIC's Chairman by 1 year: Report

The government has extended the tenure of IPO-bound LIC's Chairman MR Kumar by one more year, PTI reported. Kumar, whose tenure has been extended for the second time, will now reportedly continue as LIC Chairman till March 2023. LIC's IPO is likely to be India's biggest-ever and the government may seek a valuation of ₹15 lakh crore, Bloomberg earlier reported.