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).
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 total number of demat accounts in the country stood at 171.1 million as of August 31.
According to preliminary information memorandum, Air India's new owner will be asked to list the company in some time
The scheme encourages retail investors to participate in capital markets.
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 is one of the largest Indian shareholders in the country's largest car maker, with a 6.93% stake.
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
The 2019 list shows a 37 per cent jump in brand value for the Tata group, to $19.55 billion for 2019, the highest in the top 25.
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.
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.
Equity fundraising through initial public offerings (IPOs) rose 20 per cent during the financial year 2023-24 (FY24). During the period, 76 Indian corporates raised Rs 61,915 crore through main board IPOs, compared to Rs 52,116 crore mobilised by 37 IPOs in 2022-23, as disclosed by PRIME Database. However, if one excludes the mega Life Insurance Corporation (LIC) IPO, which came out in 2022-23, IPO mobilisation increased by 58 per cent from last year.
The best way to achieve financial security isn't by cutting out every vada pav or limiting yourself to home-cooked meals; it's by making yourself indispensable at work, says Vatsal Ramaiya.
The life insurance industry does not have a good track record when it comes to passing on tax benefits to policyholders, points out Harsh Roongta.
LIC will be subscribing bonds worth Rs 30,000 crore.
The government hopes to use this data to assess the extent of financial support needed to recover from the pandemic.
Equity fundraising through initial public offerings (IPOs) rose 20 per cent during the financial year 2023-24 (FY24). During the period, 76 Indian corporates raised Rs 61,915 crore through main board IPOs, compared to Rs 52,116 crore mobilised by 37 IPOs in 2022-23, as disclosed by PRIME Database. However, if one excludes the mega Life Insurance Corporation (LIC) IPO, which came out in 2022-23, IPO mobilisation increased by 58 per cent from last year.
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.
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).
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.
'At the policy's maturity, the total premium is refunded.'
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.
Equity markets may witness a gradual up-move this week with some volatility as both election and earnings season are nearing their end, analysts said, adding that global trends and trading activity of foreign investors would hold significance in dictating investors' sentiment. Benchmark indices, which had a record-breaking rally last week, would also track global oil benchmark Brent crude and the rupee-dollar trend. The monthly derivatives expiry on Thursday may also fuel volatility in markets.
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.
"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.
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.
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.
