LIC Housing Finance (LICHF) delivered a healthy FY24 with improvements in net interest margin (NIM) and credit costs and an improved return on assets of 1.7 per cent compared to an average of 1.3 per cent between FY14-FY23. Loan growth was low due to technology upgrades to the platform in H1FY24, though momentum improved in H2FY24. In Q4FY24, the net interest income (NII) came in at Rs 2,250 crore.
Close on the heels of public sector banks slashing their home loan rates, LIC Housing Finance, has announced a 1.75-2.25 per cent cut in its lending rates for home loans up to to Rs 20 lakh (Rs 2 million) from December 17.
Retirement fund manager EPFO has decided to suspend further investments in the LIC Housing Finance till CBI completes investigations into the alleged involvement of its top official in the bribes-for-loans scam.
LIC is also working on a new model to scan loan applications.
Life Insurance Corporation (LIC) of India, which is conducting an internal probe into the bribe-for-loan scam that surfaced at LIC Housing Finance (LICHF) in November, has not detected any aberration as yet.
India's biggest life insurer and financial institution has turned to its 'turnaround man' to restore credibility to prime subsidiary LIC Housing Finance (LICHF). Vijay Kumar Sharma, 52, formally took over as its CEO on Wednesday. Sharma comes from Chennai, where over the past one year he turned LIC's south zone into the best performer after a 20-month slowdown.
The Central Bureau of Investigation on Wednesday arrested eight people, including the chief executive officer of LIC Housing Finance, for allegedly giving corporate loans for monetary considerations.
Tata Capital will offer home loans at lower rates to women borrowers, on the lines of similar offerings being made by state-run institutions like SBI and LICHF.
Some called it 'sheer bad luck' for Nair, others talked of a conspiracy.
Competition watchdog CCI has asked about two dozen banks and housing finance companies, including HDFC, ICICI Bank, and LICHF, to explain their imposing penalty on borrowers for pre-payment of home loans. The Competition Commission of India, according to official sources, has sent notices to major home loan players after examining a report of Director General (Investigations) which found evidences against banks for misusing their dominant position.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Low home loan rates by banks could put large players in an advantageous position over smaller non-bank players, believe analysts.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances