Govt hardens norms on Irdai, public insurer top brass' post-retirement jobs

This comes after the Centre had reportedly received complaints against two past Irdai chairpersons, Subhash Chandra Khuntia and T S Vijayan

The Union government has asked top brass of Insurance Regulatory and Development Authority of India (Irdai) and public sector insurers to make a declaration that their post-retirement assignments do not involve conflict of interest and their employer is not involved in intelligence gathering. 

The Department of Financial Services (DFS) has mandated the chairman and members of Irdai, chairman and managing directors of Life Insurance Corporation (LIC), and other public sector insurance companies (PSICs) to seek the Centre’s prior permission before taking up any post-retirement jobs, and share their professional/personal and the future employer’s details. 

This comes after the Centre had