As required by statute, the Board meets at least o­nce in a quarter to review quarterly financial results. The Board meeting is also convened as and when required depending on the urgency of the matter.

A Sitting Fee of Rs.15,000/- is paid to the Directors (other than Shri D. K. Mehrotra, Chairman; Shri Thomas Mathew T., Managing Director and Shri V.K.Sharma, Director & Chief Executive) for every Board / Committee Meetings attended by them. Shri V.K.Sharma, Director & Chief Executive is being paid the remuneration as applicable to an Officer in the cadre of Executive Director of LIC of India. No other Director is paid any remuneration / commission.