Sep 19, 2021 02:33 PM IST
The Cabinet had in May given in-principle approval for IDBI Bank's strategic disinvestment along with transfer of management control.
- Sep 15, 2021 02:49 PM IST
With millions of policyholders and a share of 66% of new premium collections in a crowded insurance market, LIC is a household name, managing assets of more than $450 billion.
- Sep 13, 2021 06:51 PM IST
The life insurance sector's Annual Premium Equivalent grew at 15 percent y-o-y in August 2021.
- Sep 08, 2021 01:55 PM IST
The listing of LIC is set to be India’s biggest ever IPO, with the government aiming to raise up to 900 billion Indian rupees ($12.24 billion) from its stake sale.
- Sep 03, 2021 11:04 PM IST
Before the latest acquisition of shares in the bank, LIC held over a 3.17 per cent stake in the state-owned bank. The bank said that LIC's stake in Bank of India has now increased to 7.05 per cent, equivalent to 28,92,87,324 shares.
- Aug 27, 2021 06:13 PM IST
The government expects to raise Rs 80,000 crore-90,000 crore ($11 bln-12.2 bln) from its stake sale in Life Insurance Corp (LIC), as part of its plans to raise Rs 1.75 lakh crore from a privatisation programme in the current fiscal year ending in March 2022.
- Aug 24, 2021 03:03 PM IST
Although 74 percent FDI is permitted in the insurance sector, the norm does not apply to LIC so far as the company is a special entity formed through a legislation passed in the Parliament.
- Aug 23, 2021 11:09 PM IST
The listing of LIC will be crucial for the government in meeting its disinvestment target of Rs 1.75 lakh crore for 2021-22 (April-March).
- Aug 23, 2021 04:56 PM IST
The policies of specific eligible plans can be revived within five years from the date of the first unpaid premium subject to certain terms and conditions, LIC said.
- Aug 21, 2021 09:32 PM IST
The Cabinet Committee on Economic Affairs (CCEA) had in July given its in-principle approval for the listing of insurance behemoth Life Insurance Corporation of India (LIC).
- Aug 18, 2021 11:47 AM IST
Finance Minister Nirmala Sitharaman said that the work on the regulation of cryptocurrency was nearly complete and the cabinet had to decide on it now.
- Aug 13, 2021 09:13 AM IST
From January-July, more than Rs 50,000 crore raised via IPOs. Experts told Moneycontrol that about 18 companies could raise about Rs 28,000 crore through their IPOs in August.
- Aug 11, 2021 11:53 AM IST
The government also expects to complete selling state-owned refiner Bharat Petroleum Corp Ltd and national carrier Air India in the current fiscal year that runs through March 2022, said Tuhin Kanta Pandey, secretary, department of investment and public asset management.
- Aug 11, 2021 11:19 AM IST
"There is a very big privatization agenda and that would mean that apart from NCLT, there will be a lot of assets on offer which will come from the public sector," Tuhin Kanta Pandey said.
- Aug 06, 2021 03:51 PM IST
While rejecting the petition, the bench headed by Justice Rekha Palli said a "father does not own the daughter", and that every child has the right to use the mother's surname.
- Aug 02, 2021 09:01 PM IST
The EPFO can invest up to 15 per cent of investment in equity as per the Pattern of Investment notified by the central government and the internal guidelines of the EPFO approved by the Central Board of Trustees (CBT), Employees' Provident Fund (EPF).
- Jul 26, 2021 03:00 PM IST
The move would allow foreign companies to hold upto 74 percent stake in the divested general insurance company.
- Jul 23, 2021 10:39 AM IST
All features and clauses of the pension product are the same across insurers, but the annuity rates are left to the companies
- Jul 23, 2021 09:24 AM IST
Fears are that the estimated size of the LIC IPO could “crowd out private insurance companies from the equity market, hampering economic growth”
- Jul 19, 2021 07:50 PM IST
The Centre is confident of meeting the ambitious divestment target of Rs 1.75 lakh crore through share sales in Air India and other companies, including the Life Insurance Corporation IPO, which is expected to be India’s largest.
- Jul 14, 2021 11:25 AM IST
The Union Cabinet had recently approved disinvestment of LIC. The panel headed by finance minister Nirmala Sitharaman will decide on the size of the share sale.
- Jul 13, 2021 10:44 AM IST
A three-pronged strategy is being adopted by LIC, the country's largest insurer. It includes improving persistency, reducing its NPA ratio in the debt portfolio as well as planned exits of non-core assets like the IDBI Bank.
- Jul 12, 2021 09:34 PM IST
Under the embedded value method, the insurance company's present value of future profit is also included in its present net asset value.
- Jul 12, 2021 10:22 AM IST
The government plans to list LIC by March, sources said.
- Jul 09, 2021 06:12 PM IST
While the Cabinet Committee on Economic Affairs has allowed the sale of the entire stake, the exact quantam will be decided as the process unfolds. The Centre and LIC together own nearly 95 percent of IDBI Bank currently.