Govt. of India vide its notification dated August 18, 2021 appointed Lalit Kumar Chandel as Govt. of India nominee Director on the Board of Bank of Maharashtra w.e.f. 18th Aug, 2021. Lalit Kumar belongs to the Indian Economic Service (1995 batch) and presently posted as Economic Adviser, Department of Financial Services, Ministry of Finance, Government of India, New Delhi. Lalit Kumar is a postgraduate in Economics, MBA and Fellow in Insurance.
Prior to his present assignment Lalit Kumar was Govt. nominee Director on the Board of ICICI Bank Limited. He served at various levels in different departments of Government of India, including Banking, Insurance, Capital Markets, External Assistance, Rural Development, Power, Irrigation and Health. Kumar held key positions of Director (Insurance), Department of Financial Services, Ministry of Finance; Executive Director, CVO and Financial Adviser, Insurance Regulatory and Development Authority of India, and Whole Time Director Finance, Telangana State Power Generation Corporation.
Lalit Kumar, as an officer from the IES, was initially posted as Research Officer, Irrigation and CAD Division, in the then Planning Commission, Govt. of India and assigned the work of examining proposal for according investment clearance to irrigation projects.
Lalit Kumar had also served earlier as Director (Government Nominee) on the Boards of National Insurance Company Limited, Oriental Insurance Company Limited, Corporation Bank, Agriculture Insurance Co. of India, and National Insurance Academy.