Leading mortgage financier LIC Housing Finance on Monday cut its home loan rates by 75 basis points for existing customers effective from April 1.
Insurer seeks leeway to invest in sub-AAA-rated companies.
LIC will kickstart its credit card business in September 2008.
The Bharatiya Janata Party on Friday filed a complaint with the Election Commission against the LIC seeking a ban on its new scheme in Bangalore, alleging it is aimed at propagating the Aadhar card and helping Nandan Nilekani who is contesting Lok Sabha elections from there.
Reserve Bank of India on Thursday said 15 large NBFCs, including LIC Housing Finance, Bajaj Finance, Shriram Finance and Tata Sons, will be subject to enhanced regulatory requirements. The central bank has categorised NBFCs into Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL). A list of 15 large Non Banking Finance Companies (NBFCs) falling in the Upper Layer category has been released.
Chairman says turnaround has begun in sector expects 10% growth in firm's core business this year.
P V Subramanyam clears some misconceptions about debt funds.
Life Insurance Corporation of India has asked the Insurance Regulatory & Development Authority to allow it a shareholding of up to 20 per cent in a company.
India's largest life insurer, Life Insurance Corporation of India (LIC), has crossed the mark of 1-crore individual policies for the current financial year, with first premium income of Rs 15,917-crore (Rs 159.17 billion) in the fortnight ended August 14, 2010.
Life Insurance Corporation of India, the country largest insurer, is in talks with the government to modify its investment norms to diversify the risk.
The public sector insurance major on Friday declared a bonus of Rs 70 per Rs 1000 sum assured for whole-life plans compared with Rs 66 of the previous financial year.
Revision in the context of an ongoing global review affecting financial institutions: Moody's
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Chairman of insurance giant says it has invested Rs 16,000 cr in equity till Oct.
The insurance company has formed a four-member committee headed by LIC chairman TS Vijayan to decide the valuation of LIC Mutual Fund.
Life Insurance Corporation plans to forge a joint venture for foraying into Australia and New Zealand markets.
Mutual funds (MFs) are likely to surpass foreign portfolio investors (FPIs) in terms of anchor investments in initial public offerings (IPOs) for the second consecutive year. In calendar year 2023 so far, MFs have invested Rs 5,577 crore as anchor investors, compared to the Rs 5,417 crore invested by FPIs this year. In 2022, MFs put in Rs 9,026 crore as anchor investment, 21 per cent higher than the FPI tally of Rs 7,105 crore. This marked the first time since 2014 that MFs had outpaced FPIs in anchor investments.
Three leading domestic voting advisory firms are not on the same page over the proposed demerger and separate listing of ITC's hotel business, ITC Hotels. Institutional Investor Advisory Services (IiAS) has recommended a vote "against" the resolution, while InGovern and Stakeholders Empowerment Services (SES) have advised their clients to vote in favour. Voting on the resolution is currently underway.
Immediately after Reserve Bank hiked key short-term interest rates by 0.25 per cent on Tuesday, LIC Housing Finance announced that it will raise home loan rates.
LIC, the country's largest insurer, on Friday ruled out an initial public offer to raise capital, as it has made separate provisions worth about Rs 17,000 crore (Rs 170 billion) in the last few years to meet IRDA's norms.
A major section of Life Insurance Corporation employees went on strike on Thursday to press for higher pay package even as the country's largest insurer kept its offices open.
Indian government expects LIC to have better business this year.
Union Finance minister P Chidambaram on Tuesday announced enhancement of bonus for policy holders of the Life Insurance Corporation of India.
Endowment Plus is a unit-linked product that offers investment-cum-insurance during the term of the policy.
Conceding the long-pending demand from around 11 lakh agents, the Life Insurance Corporation of India (LIC) has revised the gratuity payable to agents to Rs 2 lakh from Rs 1 lakh earlier. The revised rates will be applicable retrospectively from April 1, 2007.
Public-sector LIC for the first time witnessed its market share slipping below 80 per cent mark in November-end 2004 as competition intensified in the life insurance market with the entry of Sahara Life.
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.
The government sold 63.16 crore shares or 10 per cent stake in Coal India through an offer for sale (OFS) on January 30.
The judge orally observed that the obtaining of this kind of benefit by any such nominee-director raised an important question of morality and, equally, of law.
The government hopes to use this data to assess the extent of financial support needed to recover from the pandemic.
The IL&FS management is also talking to its second-largest shareholder, Orix Corporation of Japan, to infuse more funds into the company - in case any shareholder backs out during the rights issue.
LIC's product will be a hospital cash product (that is for major listed surgeries and procedures, LIC will pay the insured a predetermined lump sum amount, depending on his premium payment). LIC's product will also be a long-term product of over 10 years. For claim payouts, the public sector behemoth has tied by with Axis Bank, Syndicate Bank and Bank of America.
Life insurers in India registered a 22 per cent growth, collecting Rs 9,713 crore (Rs 97.13 billion) in premium income from new business till December, with private players gaining more ground from LIC.
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