"We may rope in a consultant for our proposed foray into banking business, if that is required. This will happen after the final guidelines on banking license is out by the Reserve Bank of India (RBI)," Director and Chief Executive of LIC Housing Finance, V K Sharma said.
Life Insurance Corporation of India has said the Insurance Regulatory and Development Authority's requirement that extra 50 per cent solvency margins above regulatory norms be maintained was unfair and unwarranted.
LIC employees plan to observe a two-hour walk-out strike on August 4 to protest against the LIC (Amendment) Bill, 2009, introduced by the finance minister in the Lok Sabha on Friday, a senior office-bearer of an employees association said. The Bill says that the minimum capital of LIC would be increased from the present Rs 5-crore (Rs 50-million) to Rs 100-crore (Rs 1 billion).
Life Insurance Corporation of India has hiked its stake in Anil Ambani Group company Reliance Communications to 7.02 per cent after buying fresh shares worth Rs 1,274.4 crore through an open market transaction.
After lying low since its foray into the credit card business two years ago, Life Insurance Corporation (LIC) of India on Monday announced a tie-up with Axis Bank to offer co-branded credit cards to its policyholders and employees.
The scheme encourages retail investors to participate in capital markets.
LIC is one of the largest Indian shareholders in the country's largest car maker, with a 6.93% stake.
CNBC-TV18 News reports that it has been able to confirm that the insurance giant is firmly backing Tata Sons. There is thus no possibility that the insurer will exit the group.
LIC will be subscribing bonds worth Rs 30,000 crore.
Its lenders, who hold around 23 per cent of the debt-laden airline, have asked the promoters to bring in equity before they lend more.
At a time Life Insurance Corporation (LIC) is under the scanner due to the alleged bribe-for-loan scam at its housing finance arm, the mutual fund company of the corporation has been continuously losing business. Its assets have dipped substantially this year. As the mutual fund industry faces redemption pressure, LIC Mutual Fund, a state-owned fund house, has performed worse than the industry so far in the current financial year.
The total assets of the Life Insurance Corporation of India (LIC) have grown to about Rs 500,000 crore (Rs 5 trillion) from Rs 381.90 crore (Rs 3.819 billion) five decades ago at the time of nationalisation, a senior official said in Coimbatore.\n\n
In a bid to get more returns from its properties, Life Insurance Corporation of India has identified 70 sites, spread across the country, for development of either residential or commercial projects.
State-run insurer LIC and private fund house Franklin Templeton have hiked their stake in Mukesh Ambani-led Reliance Industries by collectively buying about 23 lakh shares, currently worth an estimated Rs 200 crore (Rs 2 billion).
According to a presentation by LIC to Parliament standing committee on finance, total investment at the end of March 31, 2012 was Rs 13.49 lakh crore or Rs 13.49 trillion.
Life Insurance Corporation of India and DaimlerChrysler, one of the oldest partners of Tata Motors, may refrain from participating in the ongoing Rs 4,145-crore (Rs 41.45 billion) rights issue that is closing on October 20, investment banking sources said. The move comes after Life Insurance Corporation of India expressed its wariness in putting in its bid.
State-run life insurance major LIC on Thursday said it will invest Rs 1 lakh crore (Rs 1 trillion) in the equity market in the current fiscal, up from Rs 35,000 crore (Rs 350 billion) during 2008-09.
During the first quarter ended June, 2014-15 fiscal, LIC earned a total premium of Rs 14,016 crore.
LIC's Rs 3,000 crore bid helped HAL reach the minimum 10 per cent dilution threshold required for listing, sources said
"We have written to all the companies in which we have nominee-directors, asking them not to give Esops," said LIC managing director D K Mehrotra. He said there were more than 100 companies in which LIC had nominee-directors.
These mutual funds from LIC have been steady performers since the last 5 years
There are certain plans that you can opt for that also cover dental treatments, says rediffGURU Sanjib Jha.
The Bombay high court has ruled that LIC has to honour claims made by lenders, that is banks, non-banking finance companies and financial institutions, if an LIC policyholder defaults in repaying the loan to the lender.
Life Insurance Corporation scotched speculation of setting up or acquiring a bank on Wednesday but said it plans to enter credit cards business and manage pension funds.
Life Insurance Corporation of India lost more than 8 per cent market share after posting a marginal 1.93 per cent growth in business last fiscal, while private players grew by more than 153 per cent during 2003-04.
Unit Trust of India and Industrial Finance Corporation of India, which together hold around 23 per cent stake in LIC Housing Finance, are likely to exit from the company even as LICHFL is exploring possibility of a public offer.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances