Overlooking Brief of Changes in LIC and OFB Managerial posts

by January 3, 2019 0 comments

Hemant BhargavaLIC’s New Chairman: Hemant Bhargava

The managing director of the Life Insurance Corporation (LIC) of India, Hemant Bhargava, has taken additional charge as Chairman of the organisation in place of V K Sharma, who retired on December 31, 2018. Bhargava had taken charge as managing director of LIC of India in February, 2017.  A true leader, he was instrumental in completing the design and setting up a separate Micro Insurance vertical which was LIC’s first comprehensive enterprise-wide initiative in financial inclusion space. He also set up a new joint venture in collaboration with the banking industry, and founded LIC Cards Services Limited, launching the ‘LIC Card’ in 2009. He also set up the newly formed SBU International Operations to manage LIC’s operations in about 11 countries. He has also been instrumental in finalising the first memorandum of understanding (MOU) for LIC to form a composite insurance company in the Kingdom of Saudi Arabia. Bhargava founded the ‘Indian Business Group’ in Mauritius for promoting the business interests of the companies of Indian origin with the High Commissioner of India being the Patron. Bhargava has also headed different Zones, viz. Northern Zone comprising of Delhi, Punjab, Rajasthan, Himachal Pradesh, Jammu and Kashmir, Haryana and the Union Territory of Chandigarh and the Eastern Zone comprising of Arunachal Pradesh, Assam, Meghalaya, Mizoram, Manipur, Nagaland, Sikkim, Tripura, West Bengal and the Union Territory of Andaman and Nicobar Islands.

Saurabh Kumar takes charge as DGOF and Chairman of OFB

Saurabh Kumar, IOFS, took over from P K Shrivastava, IOFS, Director General of Ordnance Factories (DGOF) and the Chairman of the Ordnance Factory Board (OFB) upon the latter’s superannuation at the OFB Kolkata. Kumar, an IOFS officer of the 1982 batch, is an MTech in mechanical engineering from the Indian Institute of Technology (IIT) Kanpur. An expert in the manufacture of ordnance, Kumar was on deputation to the Ministry of Defence at Delhi as the Director of Planning and Coordination from 2002 to 2009. During this period, he was involved in drafting the Indian offset policy for defence purchases and the ‘Make’ procedure in the Defence Procurement Procedure of 2003-04, which incorporated the recommendations of the Arun Singh Committee.

He was also instrumental in piloting the proposals and obtaining the approval of the government for setting up two, new greenfield Ordnance Factories at Nalanda and Korwa in Bihar and Uttar Pradesh respectively.

As the general manager of the Engine Factory at Avadi (2012-13), he was involved in operationalising the project and initiating an indigenisation programme which culminated in the handing over of the fully indigenous engines of T-90 ‘Bhishma’ and T-72 ‘Ajeya’ tanks to the Minister of Defense in July 2018.

His tenure saw the establishment of the vendor base that led to this achievement and an increase in production of new engines by 30 per cent. As the general manager of the Ordnance Factory Ambajhari, near Nagpur in Maharashtra, Kumar spearheaded the modernisation programme which included the induction of the robotic forging technology, new generation CNC machines and the predictive maintenance, which not only increased productivity and quality but also led to the successful productionisation of the ‘Pinaka’ rockets.

Writer and Courtesy: The Pioneer

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