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Board of Directors BOARD OF DIRECTORS Shri V K Sharma Chairman Ms. Usha Sangwan Shri Vinay Sah Shri Jagdish Capoor Director Managing Director & CEO Director Ms. Savita Singh Shri T.V Rao Dr. Dharmendra Bhandari Director Director Director Shri Debabrata Sarkar Shri V K Kukreja Shri Ameet Patel Director Director Director 23 LIC HOUSING FINANCE LIMITED ANNUAL REPORT 2016-17 24 BOARD OF DIRECTORS SHRI V K SHARMA MS. USHA SANGWAN Chairman Director Shri Vijay Kumar Sharma took charge as Chairman, Life Mrs. Usha Sangwan, is the first ever woman Managing Insurance Corporation of India on 16th December, 2016. Prior Director of Life Insurance Corporation of India. She is Post to his taking over as Managing Director, LIC of India, on 1st Graduate in Economics and Post Graduate Diploma holder in November, 2013, he was Managing Director & Chief Executive Human Resource Management and Licentiate from Insurance Officer, LIC Housing Finance Limited (LICHFL), a premiere Institute of India. She joined LIC as Direct Recruit Officer in 1981. housing finance provider in the country with loan portfolio exceeding `83,000 crore. Mrs. Sangwan is the whole time Director of LIC of India, Board Member of General Insurance Corporation of India, Shri Vijay Kumar Sharma, born on 19th December, 1958 is LIC Housing Finance Ltd., Axis Bank, Ambuja Cements Ltd. a post-graduate (M.Sc.) in Botany from Patna University. and Bombay Stock Exchange Ltd., Board Member of LIC Shri Sharma joined LIC as Direct Recruit Officer in 1981 (International) BSC © Bahrain, Kenindia Assurance Co. Ltd., LIC and has grown with the Company since then. During his Card Services Ltd., Member of Governing Council of National stint as Senior Divisional Manager, Karnal, a rural division, Insurance Academy, Member on the Board of Education of had catapulated to Number One position in the country Insurance Institute of India, a Trustee of LIC Golden Jubilee in premium income ahead of all other metro centres. Foundation, Chairman of LIC of India (Regular Part-time As Executive Director of Pension & Group Schemes, he Employees)Pension Fund, Executive Committee, Investment pioneered the launch of various prestigious pension schemes Committee and Policyholders Protection Committee of LIC of India. in the country. As Zonal Manager in-charge of Southern Zone, he successfully turned around its operations and put it on She has worked in all core areas of Life Insurance. She has growth trajectory, making it No. 1 zone in 2010. vast operational and Board level experience of Financial Sector including Banking, Housing Finance, Stock Exchange, Shri Sharma’s focused leadership, proficiency in invigorating Cards, Mutual Funds, General Insurance and Reinsurance. staff performance, re-organizing teams and developing Within Life Insurance, experience in Marketing, Investments talent, enabled LICHFL maintain its growth momentum (Operations, Monitoring & Accounting, Risk Management despite volatile markets and adverse macro-economic & Research), Personnel, Product Development, Information conditions. During his tenure LICHFL was adjudged as “Best Technology, Customer Relationship management, HRD/ Housing Finance Company 2011” by CNBC-TV 18. OD, Training, Direct Marketing, Corporate Communication, Corporate Planning, Board Sectt., Estate Management, Engineering, Finance & Accounts, Marketing-all Channels, His key areas of expertise have been Business Strategy, Group Business, New Business & Reinsurance, Actuarial, Social Business Development, Processes and Systems, Leadership Media Management, International Operations, Legal, RTI, Development, Branding and Product Development, and Risk Audit, Inspection and Mission office for digital India. Mitigation and Compliance. A strategic leader, recognized for making sweeping improvements to efficiency, product development and marketing and identifying areas of Her expertise lies in analytics, strategy, execution, people skill, opportunity, he is acclaimed as a “Crisis Manager” for use of technology particularly in marketing and servicing and stabilizing operations and leading turnaround growth setting up of systems. strategies in uniquely challenging situations. Awards • She has been featured in Forbes List of 50 most powerful He has been an inspirational leader who utilizes negotiation Business Women in Asia in 2015. skills gained over thirty five years of extensive experience in insurance and financial sectors and strongly connects to the • “Most Powerful Women in Indian Business” by Business grass root levels, believes in “bottom-up approach” and has Today in 2016. the ability to see the Big Picture and translate to reality. • She is also featured in Femina – Most powerful women in India. Currently he is on Board of LIC Pension Fund Limited, • Featured on cover page of Bureaucracy Today. ACC Limited, ICICI Bank Limited, LIC Mutual Fund Asset • Featured in Business World as “Most Influential Women”. Management Ltd, LIC Housing Finance Co. Ltd, LIC Card • Management Woman Achiever of the Year 2015-16 by Services Ltd, LICHFL Asset Management Company Ltd, LIC Bombay Management Association. (International) BSC Bahrain, Life Insurance Corporation (LIC) • “Women Leadership Award” in BFSI sector by Institute of of Bangladesh Ltd, Kenindia Assurance Co. Ltd, LIC (Lanka) Public Enterprise. Ltd, LIC (Nepal) Ltd, Life Insurance Corporation (Singapore) Pte Ltd. and as a trustee of LIC Golden Jubilee Foundation. • “Brand Slam Leadership Award” by CMO Asia. 25 LIC HOUSING FINANCE LIMITED ANNUAL REPORT 2016-17 26 • “Women Leadership Role Model” by Top Rankers Shri Sah has served in all marketing positions of Central, Management Consultants. Zonal, Divisional and Branch Offices of LICI. • “CEO with HR Orientation Award” by Global HR Excellence arranged by Chartered Institute of Management Accountant. SHRI JAGDISH CAPOOR • Also felicitated by Free Press Journal, Colors TV and Director Doordarshan for Women in Leadership Role. Shri Jagdish Capoor served Reserve Bank of India in various capacities for 39 years and finally retired as Deputy Governor in 2001 after serving in that position for more than four years. SHRI VINAY SAH During his tenure as Deputy Governor he was appointed Managing Director & CEO as Chairman of Deposit Insurance and Credit Guarantee Corporation and Chairman of RBI Note Mudran Ltd (currency Shri. Vinay Sah has been appointed as the MD & CEO of press). These were concurrent charges. He was also appointed LIC Housing Finance Ltd (LIC HFL) from 12th April 2017. A on Boards of several banks viz. State Bank of India, Bank of Masters in Science (Statistics) from Lucknow University, Baroda, National Housing Bank, Exim Bank, National Bank Shri Sah started his career as a direct recruit officer with LIC for Agriculture and Rural Development and Infrastructure of India (LICI) in 1983. Prior to heading LIC HFL, one of the Development and Finance Co Ltd. largest housing finance companies in India, Shri. Vinay Sah was Executive Director- Marketing and Product Development, LICI since 2015-16. Under his leadership, LICI created history While with RBI, he was deputed to Unit Trust of India to take by achieving its First Premium Income target for 2016-17 over as Chairman temporarily for about a year in 1996. in the month of February 2017 itself. During 2016-17, LICI procured First Premium Income (FPI) of ` 37853.87crores as After retirement from RBI, he served as Chairman of HDFC against the FPI target of ` 31,000 crores. The market share of Bank, Agriculture Finance Corporation and the Bombay Stock LICI in First Year Premium increased to 71.07% from 70.44% Exchange. in the preceding year. The Corporation launched 9 individual plans during his two-year tenure as in charge of product development department. Presently, he is serving on several corporate boards, prominent among them being Manappuram Finance Ltd, HDFC Securities Ltd, LIC Pension Fund Ltd and BanyanTree Agency recruitment during his tenure registered a growth of Bank in Mauritius. He is also a member of the Board of 53.40%. The prestigious Million Dollar Round Table (MDRT) Governors, Indian Institute of Management, Indore. agency force witnessed around 50% increase taking the number to nearly 6000. It was during his time that LIC of India (Agents) Regulations, 2017, rescinding the existing LIC MS. SAVITA SINGH of India Agents Rules, 1972, was approved and notified by the Director Government of India. Ms Savita Singh is a partner with the Real Estate team at In a career spanning over three decades in the Corporation, Khaitan & Co LLP and is experienced in all kinds of property Shri. Sah has successfully handled various portfolios like transactions, hospitality transactions, litigations arising out of marketing, IT, personnel and administration. He had the property transactions and allied matters. Ms. Singh is a post distinction of serving as Zonal Manager in-charge of Western graduate in English Literature from Kurukshetra University, Zone and East Central Zone. Kurukshetra (Haryana) and a Law Graduate from Mumbai University, Mumbai. She also has professional affiliates with the Bar Council of Maharashtra and Goa. As Zonal Manager in-charge of Western Zone covering the states of Maharashtra, Goa & Gujarat, the zone achieved its First Premium target after seven years in 2013-14 and the Her experience includes drafting real estate transactional Zone was Number One in policies and premium volume documents like Agreements for Sale, Sale Deeds, Lease and policy growth. Western Zone also increased its share Deeds, Development Agreements,
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