Centre’s decision to privatise LIC disappointing: Harish Rao

Siddipet: Finance Minister T Harish Rao has said that the Life Insurance Corporation of India (LIC) is known for its credibility in the country. However, the Finance Minister has expressed his disappointment about the Centre’s decision to privatise the LIC. After inaugurating the new LIC branch office building in Siddipet on Wednesday, Harish Rao said […]

Siddipet: Finance Minister T Harish Rao has said that the Life Insurance Corporation of India (LIC) is known for its credibility in the country. However, the Finance Minister has expressed his disappointment about the Centre’s decision to privatise the LIC.

After inaugurating the new LIC branch office building in Siddipet on Wednesday, Harish Rao said that the Telangana government is the biggest customer of LIC because it was paying Rs 1,450 crore premium per annum towards Rythu Bheema. Saying that the LIC had paid Rs 5 lakh each to 81,000 farmers in the State so far, Rao said that LIC had also a strong customer base across the State. Managing Director LIC Mini Ipe, Zonal Manager Jagannadh, Chief Engineer Sri Vineeth Vatsav, Regional Manager Muralidhar, Secunderabad Divisional Manager Ramaiah, and others were present.

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