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Aug 09, 2012, 08.23 AM IST
It could be the big boost to market and the government's divestment agenda. Govt sources have indicated that the investment cap on insurance companies may be hiked. Insurance companies may now be allowed to invest upto 20% in market.
It is learnt that government is mulling to allow higher cap for LIC to invest in stock markets and Insurance Regulatory and Development Authority (IRDA) is likely to issue notification shortly. According to government sources, raising caps may help markets and govt's divestment agenda. IRDA chief has also said earlier that LIC needs more than 10% exposure in companies.
LIC's total investment corpus stood at around Rs 13 lakh crore as on March 31. During 2011-12, LIC invested Rs 1.95 lakh crore, of which Rs 40,000 crore was invested in equities.
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