<p>IPO-bound insurance behemoth LIC has invited applications from eligible candidates for the post Chief Financial Officer (CFO).</p>.<p>Life Insurance Corporation of India (LIC) in a public notice said that the post of CFO would be contractual in nature and the CFO would get remuneration of about Rs 75 lakh per annum.</p>.<p>The appointment would be for a period of three years or 63 years of age whichever is earlier, it said, adding, performance will be reviewed on a half-yearly basis.</p>.<p>The last date for submitting application is October 12, 2021, it said.</p>.<p>The move to hire a CFO follows a decision to redesignate LIC's top post to chief executive officer from chairman earlier this year following amendment to Life Insurance Corporation Act 1956 through the Finance Bill 2021.</p>.<p>As part of preparation for the mega initial public offering (IPO), the government recently shortlisted the legal adviser.</p>.<p>The government aims to come out with the IPO and subsequent listing of LIC in January-March 2022.</p>.<p>The Cabinet Committee on Economic Affairs had in July cleared the initial public offering proposal of LIC.</p>.<p>The ministerial panel known as the Alternative Mechanism on Strategic Disinvestment will now decide on the quantum of stake to be divested by the government.</p>.<p>The listing of LIC will be crucial for the government in meeting its disinvestment target of Rs 1.75 lakh crore for 2021-22 (April-March). So far this fiscal, Rs 9,110 crore has been mopped up through minority stake sales in PSU and sale of SUUTI stake in Axis Bank.</p>.<p><strong>Check out DH's latest videos:</strong> </p>
<p>IPO-bound insurance behemoth LIC has invited applications from eligible candidates for the post Chief Financial Officer (CFO).</p>.<p>Life Insurance Corporation of India (LIC) in a public notice said that the post of CFO would be contractual in nature and the CFO would get remuneration of about Rs 75 lakh per annum.</p>.<p>The appointment would be for a period of three years or 63 years of age whichever is earlier, it said, adding, performance will be reviewed on a half-yearly basis.</p>.<p>The last date for submitting application is October 12, 2021, it said.</p>.<p>The move to hire a CFO follows a decision to redesignate LIC's top post to chief executive officer from chairman earlier this year following amendment to Life Insurance Corporation Act 1956 through the Finance Bill 2021.</p>.<p>As part of preparation for the mega initial public offering (IPO), the government recently shortlisted the legal adviser.</p>.<p>The government aims to come out with the IPO and subsequent listing of LIC in January-March 2022.</p>.<p>The Cabinet Committee on Economic Affairs had in July cleared the initial public offering proposal of LIC.</p>.<p>The ministerial panel known as the Alternative Mechanism on Strategic Disinvestment will now decide on the quantum of stake to be divested by the government.</p>.<p>The listing of LIC will be crucial for the government in meeting its disinvestment target of Rs 1.75 lakh crore for 2021-22 (April-March). So far this fiscal, Rs 9,110 crore has been mopped up through minority stake sales in PSU and sale of SUUTI stake in Axis Bank.</p>.<p><strong>Check out DH's latest videos:</strong> </p>