The Central Government has approved the appointment of Hitesh Rameshchandra Joshi as the Chairman-cum-Managing Director (CMD) of GIC of India effective June 16, 2026. The appointment, conveyed via a Ministry of Finance letter dated June 15, 2026, is valid until his superannuation on September 30, 2028, or until further orders, whichever is earlier.

Joshi was serving as Executive Director (ED) at the corporation prior to this elevation. The disclosure confirms he is not related to any existing directors and is not debarred from holding the office of director by any SEBI order or other authority. He also does not hold any equity shares or securities in the corporation.

Profile of Hitesh Rameshchandra Joshi

Joshi is a post-graduate in Accountancy from Mumbai University and holds a master's degree in financial management from the Jamnalal Bajaj Institute of Management Studies. He is also a Fellow of the Insurance Institute of India.

His career at the corporation spans diverse functions including reinsurance, retrocession, finance, and Enterprise Risk Management. He has also handled budgetary control, strategic planning, internal audit, credit rating, and investor relations. Previously, he served as Executive Assistant to the CMD.

As Executive Director, he oversaw Human Resource Management, International Business Operations, Information Technology, and Vigilance Compliance. His portfolio also included the Claims Vertical, Audit & Compliance, Budgeting, Right to Information, Grievance Redressal & Complaints, Legal, Mergers & Acquisitions, Digital Team, Business Intelligence Unit (BIU), Actuary, and Office support services.

The appointment was made under the powers conferred by Article 83 of the Articles of Association of the Corporation. Satheesh Kumar, Company Secretary & Compliance Officer, submitted the disclosure to the exchanges.

GIC of India held a one-on-one meeting with ICICI Prudential Mutual Fund on June 9, 2026, to discuss operational matters. The interaction took place over call at 16:12 hours and involved the corporation's senior management. No unpublished price sensitive information was shared during the discussion, and no presentation was made.

The meeting was conducted in compliance with Regulation 30 read with Para A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Satheesh Kumar, Company Secretary & Compliance Officer, confirmed the details in a regulatory filing submitted to the stock exchanges on June 10, 2026.

Meeting Details

The disclosure confirms that the interaction was purely informational and adhered to regulatory guidelines regarding the sharing of material information.