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The Finance Ministry has notified 100 per cent foreign direct investment (FDI) in the insurance sector under the automatic route, allowing overseas investors full ownership in insurance companies and intermediaries such as brokers. However, the cap for Life Insurance Corporation (LIC) remains at 20 per cent.
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A Rs.1.52 crore scam has been uncovered at the LIC branch in Bhadrachalam, where 39 fraudulent death claims were made using fake certificates and non-existent policyholders. Two agents have been booked under various sections of BNS
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The Department of Financial Services (DFS), in collaboration with Public Sector Banks (PSBs), will unveil a Composite Salary Account Package for Central Government employees on 14 January 2026. The initiative aims to provide unified banking and insurance benefits across cadres.
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LIC shares have surged 34% from their 52-week low, driven by strong Q4 earnings, record-breaking policy sales, and rising brand value. Brokerages remain bullish, and the insurer’s market cap crossed ₹6 lakh crore after a 7-month gap.
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The Board of Directors of Life Insurance Corporation of India (LIC) approved and adopted the standalone and consolidated financial results for the quarter and half year ended September 2023.
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The Income Tax Appellate Tribunal had ruled in favour of LIC in both the cases pertaining to the assessment year 2013-14. While one of them involves an amount of Rs 1,838.8 crore, the disputed sum in the second case is Rs 3,153.9 crore.
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The current retirement age of chiefs of PSBs is 60 years, which is likely to be hiked to 62 years, as per reports, quoting sources.
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Forest Minister Allola Indrakaran Reddy said that the union government was infringing on the rights of workers.
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On February 13, the government filed the draft red herring prospectus (DRHP) for the IPO with Sebi, which granted its approval for the same last week.
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Billed as the mother of all IPOs, the upcoming public offer of the Life Insurance Corporation (LIC) could prove crucial for the government’s efforts to meet the disinvestment targets. However, there seems to be no appetite for such mega issues as it comes amid challenging times with markets being volatile and foreign portfolio investors (FPIs) […]
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New Delhi: The Life Insurance Corporation of India on Sunday filed the Draft Red Herring Prospectus (DRHP) with capital markets regulator SEBI. The insurer is looking to sell the Centre’s five per cent equity stake in the company via its upcoming IPO, the DRHP document said. The Centre aims to offload a total of 316 […]
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Hyderabad: BC Patnaik took charge as Managing Director of Life Insurance Corporation of India. According to a press release, Patnaik was elevated to the rank of Managing Director, Life Insurance Corporation of India, on October 1. Earlier, he was working as the secretary general, Council for Insurance Ombudsman (CIO), Mumbai, prior to which he was […]
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Says people gave mandate to TRS for second time for its schemes
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Special revival campaign between August 23 and October 22, 2021, for individual lapsed policies.
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The newly appointed MD of LIC is a post graduate in Commerce from Andhra University and had joined LIC in 1986 as a Direct Recruit Officer
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In her Budget Speech 2021, Finance Minister Nirmala Sitharaman said the Initial Public Offer (IPO) of LIC would be floated in 2021-22.
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LIC held 3.09 per cent stake in UBI earlier, representing 19,79,23,251 equity shares of the bank.
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The government plans to sell minority stake in the insurance behemoth and list it on the bourses
