Brief Profile of Shri Lalit Kumar Chandel, Director, NHB
Shri Lalit Kumar (Indian Economic Service), Economic Adviser, Department of Financial Services, Ministry of Finance, Government of India is a postgraduate in Economics, MBA and Fellow in Insurance. He has served at various positions in Government of India, the Insurance Regulatory and Development Authority of India (IRDAI) and the State Government of Telangana.
Shri Kumar started his career with the then Planning Commission where he was involved in policy interventions towards harnessing and utilization of all water resources for benefitting of Agricultural sector, Industrial Sector etc. While working with Department of Economic Affairs, he was responsible for overall monitoring of disbursement of resources for all the externally aided projects, regulation of securities markets and investor protection, domestic mutual funds, venture capital funds, collective investment schemes etc.
In the Department of Financial Services, Shri Lalit Kumar has handled matters relating to reforms in the insurance sector, administration of insurance sector legislations, monitoring the performance of Government owned Insurance Companies and Social Sector Insurance Schemes. He is currently looking after the key portfolio of Industrial Finance in the Department .
As Executive Director and Financial Adviser, Insurance Regulatory Development Authority of India, Shri Kumar was responsible for overall financial discipline in the organization. He was also the Head of other Departments such as the Consumer Affa irs Department, and Enforcement Department. He has also worked as Director (Finance) in the Telangana State Power Generation Corporation (TSGENCO), Hyderabad and played a crucial role in finalisation of a plan for bifurcation of assets and liabilities between demerged TSGENCO and APGENCO .
Shri Lalit Kumar is currently on the Board of Directors of National Housing Bank, and ICICI Bank. He has earlier served as the Government Nominee Director/Member in the National Insurance Company Limited, Oriental Insurance Co. Ltd, Corporation Bank, Agriculture Insurance Co. of India, National Insurance Academy, Institute of Actuaries of India and the Insurance Advisory Council of IRDAI.