Ratnakar Patnaik appointed Managing Director of LIC
Mumbai: Ratnakar Patnaik has officially taken charge as the Managing Director of the Life Insurance Corporation (LIC) of India, effective from June 1, 2025. His appointment was notified by the Government of India on May 14, 2025.
Born in 1968, Patnaik joined LIC in March 1990 as a Direct Recruit Officer. He holds a graduate degree in Physics (Honours) and a Master’s in Public Administration. He is a Fellow of the Insurance Institute of India and also holds a diploma in Health Insurance.
Prior to this elevation, Patnaik served as Executive Director (Investment Front Office) and Chief Investment Officer at LIC. Over his 35-year career, he has held key positions across several regions, including as Senior Divisional Manager at Indore and Jamshedpur, and Regional Manager (Marketing/CLIA) in LIC’s Eastern Zone. His experience spans across Marketing, Customer Servicing, and Investment operations.
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Man arrested with Rs 2.54-crore heroin in Mumbai
Mumbai (PTI): Police have arrested a man and seized over 500 grams of heroin worth Rs 2.54 crore in the illicit market from him in Mumbai, officials said on Friday.
The police's Anti-Narcotics Cell (ANC) made the drug seizure in Santacruz in the western suburbs. The operation was conducted by the Kandivali unit of the ANC on Thursday as part of a special crackdown against drug trafficking in the area, they said.
Acting on specific inputs, an ANC team conducted a raid in Santacruz (East) and intercepted a man. During a search, the team recovered 508 grams of high-grade heroin from his possession, an official said.
The seized contraband, a highly addictive, opioid drug derived from morphine, is estimated to be worth Rs 2.54 crore in the international market, he informed.
Following the seizure, a case was registered against the man under relevant sections of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985, and he was formally placed under arrest in the early hours of Friday.
The police are currently investigating the source of the drug and trying to identify the intended recipients of the consignment, he said.
