With Centre Mum, Sharma Is Lic Head

With no sign of any announcement from the North Block as to who will head the Life Insurance Corporation of India (LIC), N C Sharma, currently managing director of the behemoth, will take over from A Ramamurthy, the acting chairman and managing director, from tomorrow.

Ramamurthy retired today from office after spending 37 years in the organisation.

In his last interview with the press as the head of LIC, Ramamurthy told Business Standard that there are two major challenges for the next in charge -- the declining interest rates and the increasing competition.