Nature of change: Nomination and appointment of Director by the Central Government, replacing an existing director.
Individual details: Dr. Debasish Prusty (Additional Secretary, Department of Financial Services) replaces Shri Tapan Kumar Mondal on the Board of General Insurance Corporation of India.
Effective date: The appointment is effective immediately (from 19th June 2026) and will continue "until further orders."
Qualifications and experience: Dr. Prusty is a member of the Indian Administrative Service with over 26 years of experience in public finance, sustainable development, development cooperation, and environmental and urban governance. He holds a Doctor of Philosophy from Manipal University Jaipur and a Master of Philosophy in Environmental Sciences from Jawaharlal Nehru University, Delhi. He has received training from the International Monetary Fund (IMF) in "Finance for Macro-economists."
Professional background: Dr. Prusty contributed to India's initiative for the International Solar Alliance (ISA) in 2015 as Director in the Climate Change Division of the Ministry of Environment, Forest and Climate Change. He represented India's negotiating team in United Nations Conference on Climate Change (UNFCCC) conferences and was a member of the UNFCCC Standing Committee on Finance in 2016.
Regulatory compliance: The disclosure confirms that Dr. Prusty is not related to any existing Directors of the Corporation and is not debarred from holding the office of Director by virtue of any SEBI Order or any other authority.
Previous KMP: Shri Tapan Kumar Mondal ceased to be a Director, making way for Dr. Prusty's nomination.
Any Other Material Information
Disclosure reference: This disclosure is made under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.
Government authority: The nomination was made by the Ministry of Finance via Letter No. 6/2(ii)/2022-BO.I dated 19th June 2026.
Documentation: The brief profile of Dr. Prusty is provided as per SEBI Master Circular no HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026.
Company representative: The disclosure was signed by Satheesh Kumar S, Company Secretary & Compliance Officer of General Insurance Corporation of India.
