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BBB selects SN Rajeswari as CMD of Oriental Insurance via video interview
May 31, 2020

SN Rajeswari, General Manager, New India Assurance (NIA), has been selected by the Banks Board Bureau (BBB) as the Chairman and MD of the Delhi-based Oriental Insurance Company (OIC) after an online video interview process in the wake of the lockdown.

With this move, there are clear indications that the Centre is not in a hurry to implement the 2-year old proposal to merge three PSU general insurers, OIC, National Insurance Company (NIC) and United India Insurance, analysts said. The BBB had conducted virtual interviews of five senior general managers of the public sector general insurance industry — with two years of residual services till May 2022 — to select a CMD for OIC on 19 May 2020. AV Girija Kumar, CMD, OIC, is retiring this month end on reaching 60.

B P Sharma heads a seven-member panel to select CMDs of PSU insurance companies and banks. In a unique practice, BBB has preferred, for the second time, to announce the result of the interview on the same day.

Earlier, results of interviews for selecting CMDs of GIC Re and Agriculture Insurance Company were announced the same day.

The Finance Ministry will now start the process of appointing Rajeswari as the CMD of OIC. After Finance Minister Nirmala Sitharaman’s nod, the official papers would be sent to Appointments Committee of the Cabinet and the Prime Minister’s Office for their approvals.