LIC Board Sees Leadership Change: Shalini Pandit Appointed Government Nominee Director, Succeeds Dr. Parshant Kumar Goyal
The Life Insurance Corporation of India (LIC) has announced a key change in its board-level leadership with the appointment of Ms. Shalini Pandit, a senior Indian Administrative Service (IAS) officer of the Odisha cadre, as the Government Nominee Director on its Board. The appointment comes into effect from December 3, 2025, following an official notification issued by the Central Government.
Ms. Pandit takes over the role from Dr. Parshant Kumar Goyal, who has ceased to hold the position from the same date. LIC formally disclosed the development through regulatory filings submitted to both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 5, 2025.
According to the disclosure, Ms. Pandit has been appointed under Section 4(2)(d) of the Life Insurance Corporation Act, 1956. Her tenure as Government Nominee Director will continue until further directions are issued by the government or until she attains superannuation, whichever occurs earlier.
Current Role and Administrative Experience
Ms. Shalini Pandit is currently serving as Joint Secretary in the Department of Financial Services (DFS) under the Ministry of Finance, where she is involved in key policy matters related to banking, insurance, and financial sector reforms at the central level. Her appointment is expected to further strengthen coordination between LIC and the Government of India on strategic and regulatory issues.
Prior to her central deputation, Ms. Pandit held several senior and impactful positions in the Government of Odisha. Her portfolio included responsibilities as Secretary in departments such as School & Mass Education, Health & Family Welfare, Mission Shakti, and Odia Language, Literature & Culture. She also served as Mission Director of the National Health Mission (NHM) and as Labour Commissioner, where she played a key role in implementing administrative reforms and public welfare programs.
Leadership During the COVID-19 Pandemic
Ms. Pandit’s leadership gained national attention during the COVID-19 pandemic, when she was closely involved in managing Odisha’s public health response. Her role in coordinating healthcare delivery, vaccination strategies, and emergency response mechanisms earned wide recognition for effective crisis management. Her contributions to education reform and healthcare administration are also regarded as significant milestones in her career.
Exit of Dr. Parshant Kumar Goyal
LIC confirmed that Dr. Parshant Kumar Goyal, who previously served as the Government Nominee Director, has stepped down from the position effective December 3, 2025. The corporation acknowledged his services and contributions during his tenure, noting that the transition would be carried out smoothly to ensure continuity in governance and oversight at the board level.
Academic Background
Ms. Pandit brings a strong academic foundation to her new role. She holds a Bachelor’s degree in Botany from Miranda House, University of Delhi, and a Master’s degree in Wildlife Science from the Wildlife Institute of India, Dehradun. LIC also clarified in its disclosure that Ms. Pandit does not have any familial relationship with other members of the board.
Regulatory Disclosure and Transparency
The change in board composition has been carried out in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. LIC stated that all relevant disclosures regarding the appointment of Ms. Pandit and the cessation of Dr. Goyal’s role have been uploaded on its official website, reinforcing its commitment to transparency and regulatory compliance.
About LIC
Established in 1956, the Life Insurance Corporation of India is the country’s largest and most trusted life insurer. As a government-owned financial institution, LIC offers a wide range of life insurance products to individuals, families, and businesses across India. With its vast policyholder base, extensive agency network, and deep presence in both urban and rural markets, LIC continues to play a crucial role in strengthening long-term financial security and stability in the Indian economy.
