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  • SC declines to hear PIL alleging fraud in LIC's 'Jeevan Saral' insurance policy Jul 15, 2019 05:22 PM IST

    SC declines to hear PIL alleging fraud in LIC's 'Jeevan Saral' insurance policy

    As per the plea, the proposal form of the scheme did not have any provision to mention the lower maturity sum assured and rather it it had a provision only for the higher death benefit.

  • LIC cuts stake in Axis Bank to 10.2% Jun 24, 2019 09:24 PM IST

    LIC cuts stake in Axis Bank to 10.2%

    The insurance behemoth has been on a selling spree in the banking sector.

  • A look at how Life Insurance Corporation has managed to retain its vice-like grip Jun 20, 2019 10:14 PM IST

    A look at how Life Insurance Corporation has managed to retain its vice-like grip

    According to IRDAI, on the basis of total premium income, the market share of LIC decreased from 71.81 percent in 2016-17 to 69.36 percent in 2017-18.

  • IDBI Bank to turn to RBI for relaxation in PCA restrictions May 30, 2019 09:25 PM IST

    IDBI Bank to turn to RBI for relaxation in PCA restrictions

    Once it is out of PCA, IDBI Bank aims to raise Rs 6500 capital including Rs 2500-3000 crore of Tier-2 bonds this financial year.

  • NCLT asks Sebi to conclude probe into ITC, LIC allegations against Leela May 28, 2019 07:52 PM IST

    NCLT asks Sebi to conclude probe into ITC, LIC allegations against Leela

    The NCLT's Mumbai bench comprising V P Singh and Ravikumar Duraisamy said the regulator should conclude its examination on the matter before the next date of hearing, on July 8.

  • NSE-, LIC-backed NCDEX eyeing IPO by end 2019 May 17, 2019 07:07 PM IST

    NSE-, LIC-backed NCDEX eyeing IPO by end 2019

    NCDEX, which is the market leader in agri-commodity trading has initiated preliminary discussions with merchant bankers to raise funds via an initial public offer, sources said.

  • LIC Housing Finance Q4 net up 16.7% to Rs 693 crore May 04, 2019 05:54 PM IST

    LIC Housing Finance Q4 net up 16.7% to Rs 693 crore

    Total income rose to Rs 4,655 crore during the fourth quarter, from Rs 3,887 crore in the same period of the previous fiscal, LIC Housing Finance said in a filing to the BSE.

  • Digvijaya Singh accuses Centre of misusing LIC Apr 15, 2019 09:24 PM IST

    Digvijaya Singh accuses Centre of misusing LIC

    Singh also alleged that lakhs of agents of the LIC have stopped working in the last five years due to the policies of the Narendra Modi government.

  • MR Kumar appointed LIC Chairman; Vipin Anand, TC Suseel Kumar named managing directors Mar 13, 2019 10:05 PM IST

    MR Kumar appointed LIC Chairman; Vipin Anand, TC Suseel Kumar named managing directors

    Life Insurance Corporation (LIC) executive board comprises of one chairman and four managing directors (MDs).

  • IDBI Bank's turnaround plan lacks focus on tackling bad loans Mar 13, 2019 03:26 PM IST

    IDBI Bank's turnaround plan lacks focus on tackling bad loans

    The country's largest insurer, LIC, that has a series of failed attempts to set up a bank associated with its name now owns a majority stake in IDBI Bank. Here's how it plans to revamp the bank and maximise shareholder wealth.

  • IRDAI seeks proposal from LIC on stake reduction in IDBI Bank Mar 11, 2019 02:01 PM IST

    IRDAI seeks proposal from LIC on stake reduction in IDBI Bank

    Insurance Regulatory and Development Authority of India (IRDAI) stipulates that insurers are allowed to hold only up to 15 per cent stake in any listed entity. But LIC, with a special dispensation from IRDAI, holds more than the limit in some state-run banks.

  • IDBI charts out plan to bring banking, insurance services at one platform Mar 10, 2019 06:40 PM IST

    IDBI charts out plan to bring banking, insurance services at one platform

    The bank said these strategic initiatives will pave the way for improved operations and better financing which in turn would lead to wealth maximisation for all of its stakeholders, including LIC and the government

  • LIC cuts 2.18% stake in Welspun Mar 02, 2019 07:46 PM IST

    LIC cuts 2.18% stake in Welspun

    According to a regulatory filing by Welspun Corp, LIC which held 2,04,82,544 shares, or 7.72 per cent, sold 57,89,140 shares or 2.18 stake in the company.

  • LIC may go slow on further capital infusion in IDBI Bank Feb 21, 2019 10:33 AM IST

    LIC may go slow on further capital infusion in IDBI Bank

    IDBI Bank has sought Rs 9,000 crore-10,000 crore to spruce up its balance sheet

  • LIC launches Micro Bachat plan Feb 18, 2019 09:45 PM IST

    LIC launches Micro Bachat plan

    This plan provides financial support for the family in case of unfortunate death of the policyholder during the policy term and a lump sum amount at the time of maturity for the surviving policyholders, it said.

  • Exclusive: IRDAI seeks details of IL&FS exposure from insurers Feb 04, 2019 04:32 PM IST

    Exclusive: IRDAI seeks details of IL&FS exposure from insurers

    IRDAI Chairman Subhash Chandra Khuntia had clarified that insurers have to make adequate provisions for IL&FS-related exposures. He added that the exposure cannot be written off

  • Timeline for LIC to reduce stake in IDBI Bank depends on business model: IRDAI Feb 03, 2019 02:35 PM IST

    Timeline for LIC to reduce stake in IDBI Bank depends on business model: IRDAI

    At present, the permissible limit for an insurer to hold stake in any listed entity is 15 percent.

  • LIC to set time-line for paring IDBI Bank stake: Irdai's Nilesh Sathe Jan 24, 2019 05:50 PM IST

    LIC to set time-line for paring IDBI Bank stake: Irdai's Nilesh Sathe

    In fact, Irda feels a time-line for reducing its stake in IDBI Bank has to be decided by the LIC management itself as a regualtor mandated time-line can impact stock prices.

  • LIC completes acquisition of 51% stake in IDBI Bank; finally gets bank in its fold Jan 21, 2019 08:07 PM IST

    LIC completes acquisition of 51% stake in IDBI Bank; finally gets bank in its fold

    With the acquisition of controlling stake by LIC, IDBI Bank will now become private sector lender. The number of public sector lenders has come down to 20 with the government transferring its majority stake in favour of LIC.

  • LIC completes acquisition of 51% stake in IDBI Bank Jan 21, 2019 01:01 PM IST

    LIC completes acquisition of 51% stake in IDBI Bank

    LIC had been looking to enter the banking space by acquiring a majority stake in IDBI Bank, as the deal is expected to provide business synergies despite the lender's stressed balance sheet.

  • SBI, other banks agree to finance Nagpur-Mumbai Samruddhi Corridor Jan 17, 2019 09:04 AM IST

    SBI, other banks agree to finance Nagpur-Mumbai Samruddhi Corridor

    The estimated cost of the project, being constructed by the Maharashtra State Road Development Corporation, is around Rs 50,000 crore, of which around Rs 26,000 crore are required for the construction of the expressway.

  • LIC trims stake in Colgate-Palmolive by 2% Jan 15, 2019 03:57 PM IST

    LIC trims stake in Colgate-Palmolive by 2%

    As per a regulatory filing, LIC, which had 7.03 percent stake in Colgate-Palmolive earlier, brought down its shareholding in the company to 5 percent by selling shares between November 1, 2017, and January 14, 2019.

  • LIC's market share falls below 70% Jan 13, 2019 12:59 PM IST

    LIC's market share falls below 70%

    The market share of private insurers increased to 30.64 percent in 2017-18, from 28.19 percent in 2016-17.

  • Govt appoints Hemant Bhargava interim chairman of LIC Jan 01, 2019 08:19 PM IST

    Govt appoints Hemant Bhargava interim chairman of LIC

    Meanwhile, the government has already initiated process to select regular chairman and managing director of LIC.

  • BBB to hold interview to select LIC Chairman on January 4 Jan 01, 2019 04:27 PM IST

    BBB to hold interview to select LIC Chairman on January 4

    Vacancy of chairman post arised after retirement of V K Sharma on December 31, 2018, while position of MD fell vacant after superannuation of Usha Sangwan in September last year.

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