New Chairman of IRDA
: The Insurance Regulatory and Development Authority (IRDA) has appointed
T S Vijayan as new Chairman. Vijayan
will replace J Hari Narayan, who retired in February 2013.
T.S.Vijayan is the former chairman of LIC (Life Insurance Corporation of India).
His tenure as IRDA chairman will be of five years or till 65
years.
For almost two years, Vijayan was under the scanner of the
Central Bureau of Investigation, after corruption allegations were levied
against him regarding investment decisions made during his tenure. In May 2011,
Vijayan was removed from the post of LIC chairman. But CBI investigations did
not confirm any of the charges.
Vijayan is 4th IRDA Chairman, the previous 3
chairmen are N Rangachary, C S Rao and J. Hari Narayan.
