As ‘Indianmandarins’ had reported on June 13 the former CMD of Bank of India Ms Vijaylakshmi R Iyer took over as Whole Time Member (Finance & Investments) of IRDA (Insurance Regulatory & Development Authority of India) on June 15, 2015.
She started her career with Union Bank of India in 1975 and further made it as ED, Central Bank of India from September 1, 2010. She became the CMD of Bank of India on November 05, 2012 and served in the position till May 31, 2015.
IRDAI was constituted by an Act of Parliament in 1999. The ten member team comprises five full-time members and four part-time members and a chairman.