Business

FSIB Proposes R. Doraiswamy for CEO & MD Position at LIC

Published

7 months ago

June 12, 2025

The Financial Services Institutions Bureau (FSIB) has put forward R Doraiswamy as their recommendation for the role of Chief Executive Officer and Managing Director (CEO & MD) of the Life Insurance Corporation of India (LIC).

The FSIB evaluated four candidates from LIC for this prestigious position, considering their performance during interviews, overall experience, and assessment against established criteria, as stated in an official announcement.

“Taking into account their performance in the interviews, overall experience, and current parameters, the Bureau endorses Shri R Doraiswamy for the role of CEO & MD at LIC,” the FSIB noted.

R Doraiswamy brings over 38 years of expertise spanning Operations, Marketing, Technology, and Academics. He has been the Managing Director of LIC since 2023 and has previously held several leadership roles within the organization, including Executive Director of Information Technology/Software Development.

This recommendation follows the Central government’s delegation of financial and administrative responsibilities of the MD & CEO position to Sat Pal Bhanoo, LIC’s current Managing Director, after Siddhartha Mohanty concluded his term last week.

Bhanoo will oversee interim responsibilities from June 8 to September 7, 2025, or until a permanent appointment is made, whichever comes first.

“According to a letter from the Ministry of Finance’s Department of Financial Services dated June 7, Sat Pal Bhanoo, MD of LIC, has been granted the financial and administrative powers and functions of MD & CEO of LIC,” the state-owned insurer stated.

Business

Gold Prices Decline Slightly on January 16

Published

2 days ago

January 16, 2026

Namma Kudla

Gold prices witnessed a mild decline in the domestic bullion market on January 16, 2026. The price of 24-carat gold was recorded at ₹143,080 per 10 grams. This marked a fall of ₹360 compared to its previous closing price, indicating a soft trend in the precious metal market.

Similarly, the price of 22-carat gold also moved lower. It was trading at ₹131,157 per 10 grams during the day. The decline in gold prices reflects cautious sentiment among investors amid changing global economic signals.

Market experts said gold prices were affected by fluctuations in international markets and movements in the US dollar. Profit booking by investors at higher levels also contributed to the marginal drop in prices.

Despite the decline, demand for gold remains steady in the domestic market. Jewellers reported moderate buying interest, especially for 22-carat gold used in jewellery. Industry participants are now closely watching global inflation data, interest rate trends, and geopolitical developments.

Gold prices are expected to remain volatile in the coming days. Investors are advised to keep an eye on global cues and currency movements before making fresh investments.

Business

Silver Crashes ₹12,500 to ₹2.43 Lakh per kg; Gold Declines ₹900

Published

1 week ago

January 9, 2026

Namma Kudla

Silver prices fell sharply from record levels in the national capital on Thursday due to global profit-booking. The price of silver dropped by ₹12,500 to ₹2,43,500 per kilogram.

According to the All India Sarafa Association, the white metal had touched a record high of ₹2,56,000 per kilogram in the previous trading session on Wednesday. Silver had surged by ₹5,000 in that session amid strong global cues.

Gold prices also weakened on Thursday. The yellow metal declined by ₹900 per 10 grams in the local market. Traders attributed the fall to selling pressure after recent gains.

Market experts said that a rise in global prices earlier had encouraged investors to book profits. This selling pressure impacted both silver and gold prices in the domestic market.

They added that movements in international bullion prices and a stronger dollar also influenced the decline. Investors are now closely watching global economic signals for further direction in precious metal prices.

Business

India Should Boost Silver Processing, Diversify Imports

Published

2 weeks ago

January 7, 2026

Namma Kudla

India should strengthen its silver processing capabilities and diversify its import sources, according to the Global Trade Research Initiative (GTRI).GTRI said silver is not just a precious metal. It is also a critical input for industries and the clean energy transition.

The report highlighted the growing importance of silver in sectors such as electronics, solar energy, electric vehicles, and advanced manufacturing. GTRI said India should secure long-term mining supplies from overseas to ensure a stable flow of raw silver.

It also recommended boosting domestic refining capacity to reduce dependence on imported finished silver. The think tank stressed the need to expand silver recycling within the country to meet rising demand.

GTRI warned that heavy reliance on a few countries for processed silver could pose supply risks. It noted that China is currently the world’s dominant processor of silver. The report advised India to diversify its import sources to improve supply security and reduce vulnerability to global disruptions.

GTRI said these measures would support India’s industrial growth and energy transition goals.