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LIC staff to get off on 2nd and 4th Saturdays
Posted on 25th April 2018
New Delhi, Apr 25 () LIC employees will soon get an off on every second and fourth Saturdays of a month with the government approving their long-standing demand.

According to official sources, this is in line with the practice followed for public sector banks.

LIC profit booking rises to record Rs25,000 crore in FY18
Posted on 17th April 2018
Mumbai: State-run insurer Life Insurance Corporation of India (LIC) booked record equity trading profits of Rs25,000 crore in 2017-18, up from Rs19,000 crore a year ago, said two people aware of the matter.

The state-owned insurer is finalizing its annual accounts and these will be published in May.

LIC cancer policy finds most takers in Gujarat, Maharashtra, Kerala, Tamil Nadu; key things to know
Posted on 16th April 2018
Life Insurance Corporation (LIC) had launched a cancer cover six months back. LIC’s flagship programme seems to have received a favourable response. It has sold 88,750 policies across the country, according to The Indian Express report. It has been learnt 58.5 per cent of those 88,750 policies were sold in Maharashtra, Kerala, Tamil Nadu and Gujarat.

Videocon loan row: LIC, govt nominee seek meeting with ICICI Bank brass
Posted on 10th April 2018
The Life Insurance Corporation of India (LIC), which holds about a 9.4 per cent stake in ICICI Bank, and the government’s new nominee on the private lender’s board have called a meeting of the bank’s top management this week. This comes against the backdrop of the recent developments in the ICICI Bank-Videocon case and declining investor confidence.

Finance Ministry okays govt guarantee of Rs 5,000-cr IRFC bonds for LIC
Posted on 27th March 2018
To make funds available to the Indian Railways, the ministry of finance has approved government guarantee of Rs 5,000 crore for bonds to be issued by Indian Railway Finance Corporation (IRFC) before the end of this fiscal. These bonds will be subscribed by Life Insurance Corporation of India (LIC). In addition, the finance ministry has also waived the guarantee fee which otherwise IRFC would have paid, thus decreasing the cost of funds for the transporter.

LIC faces Rs 25 crore exposure to Gitanjali
Posted on 7th March 2018
MUMBAI: The Life Insurance Corporation of India (LIC) has close to Rs 25 crore outstanding from the Gitanjali group, against which it has security of the group’s Hyderabad Gem Special Economic Zone (SEZ). The corporation had originally extended a loan of Rs 125 crore, a large part of which has been repaid.

The only exposure the corporation has to the Nirav Modi/Mehul Choksi groups is a term loan provided for the SEZ.

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