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  • LIC board likely to approve IDBI Bank investment today Jul 16, 2018 12:26 PM IST

    LIC board likely to approve IDBI Bank investment today

    LIC will own 51 percent in IDBI Bank after the deal and will be the bank's largest shareholder

  • LIC board to meet on July 16 to finalise IDBI Bank stake buy Jul 15, 2018 07:01 PM IST

    LIC board to meet on July 16 to finalise IDBI Bank stake buy

    LIC has 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.

  • IDBI Bank employees oppose proposed take over by LIC Jul 03, 2018 09:08 PM IST

    IDBI Bank employees oppose proposed take over by LIC

    Taking into consideration the fact that the bank has been consecutively posting healthy operating profits, burgeoning provisioning to NPAs and write offs are acting as a drag on the bottom line of the bank, an official said.

  • Opinion | Has IRDAI failed to protect policyholder interest by okaying LIC-IDBI deal? Jul 02, 2018 06:06 PM IST

    Opinion | Has IRDAI failed to protect policyholder interest by okaying LIC-IDBI deal?

    The insurance regulator must clearly spell out the reasoning for allowing this stake increase and whether it is a one-off.

  • IDBI Bank NPAs could become LIC's non-performing investment, employee unions warn govt Jul 02, 2018 05:04 PM IST

    IDBI Bank NPAs could become LIC's non-performing investment, employee unions warn govt

    Banking and insurance sector employee unions also warned it could eventually lead to privatisation of the bank and resultant job losses.

  • LIC-IDBI Bank deal tantamount to loot of public savings: CPI(M) Jun 30, 2018 07:07 PM IST

    LIC-IDBI Bank deal tantamount to loot of public savings: CPI(M)

    In a statement, the Left party said the Life insurance Corporation (LIC) was a repository of public savings in the form of insurance policies, and using this capital to bailout the "worst defaulter” bank was “tantamount” to loot of people's savings.

  • IDBI Bank will get LIC's money, but what more will it need to turn around? Jun 30, 2018 04:34 PM IST

    IDBI Bank will get LIC's money, but what more will it need to turn around?

    Optimists see the bank's performance turning around in as early as one year, but others believe it will take 3-4 years for LIC to affect a proper turnaround

  • Podcast | What the likely IDBI Bank-LIC deal entails Jun 28, 2018 08:50 PM IST

    Podcast | What the likely IDBI Bank-LIC deal entails

    The government wants to sell a big part of its stake in IDBI to Life Insurance Corporation of India. This deal will grant LIC promoter status in IDBI — an effort by the central government to revive the bank. Tune into the Moneycontrol podcast to know more abou this deal.

  • IDBI looking at increasing retail assets to 29% this year Jun 28, 2018 05:57 PM IST

    IDBI looking at increasing retail assets to 29% this year

    The bank, which has the highest bad loan ratio in the system with over 25 percent, is offering an interest rate in the range of 8.90 percent to 9.50 per annum in auto loan and 12 percent to 14 percent per annum in personal loan.

  • B Sriram resigns as SBI MD amid IDBI stake sale buzz Jun 28, 2018 05:55 PM IST

    B Sriram resigns as SBI MD amid IDBI stake sale buzz

    Sriram joined the government-run bank in 1981 as a Probationary Officer. During over three-decade-long career, he held several positions and also had a stint at SBI's Singapore office.

  • IRDAI may ease 15% rule to allow IDBI Bank’s acquisition by LIC Jun 28, 2018 04:12 PM IST

    IRDAI may ease 15% rule to allow IDBI Bank’s acquisition by LIC

    The Insurance Act currently bars an insurer from acquiring more than 15 percent stake in any company

  • LIC may enter banking space; eyes majority stake in IDBI Bank Jun 26, 2018 05:28 PM IST

    LIC may enter banking space; eyes majority stake in IDBI Bank

    As the government makes efforts to revive the fortunes of IDBI Bank, which is saddled with huge amounts of bad loans, LIC becoming a major stakeholder in the lender could be beneficial for both state-owned financial players in the long run, they added.

  • Is a possible stake sale to LIC the best solution to IDBI’s problems? Jun 25, 2018 06:12 PM IST

    Is a possible stake sale to LIC the best solution to IDBI’s problems?

    IDBI is not a lone case, there are about a dozen more banks whose capital position is precarious and they wouldn’t be in a position to raise capital from the market. The moot question remains, how many will LIC bail out?

  • LIC's market pie continues to slip,down 200 bps to 44% in FY18 Apr 24, 2018 08:58 PM IST

    LIC's market pie continues to slip,down 200 bps to 44% in FY18

    Another surprise in the year was the SBI Life toppling the market leader ICICI Prudential Life in market share sweepstake in the year. This is the third consecutive year of faster premium growth for the arm of the nation's largest lender clipping at 31 percent, according to the data collated by Wall Street brokerage Morgan Stanley today.

  • Government may exit Air India, sell its residual stake to LIC Apr 05, 2018 10:20 AM IST

    Government may exit Air India, sell its residual stake to LIC

    After ESOPs are given out, the government’s stake will fall to around 20%. The Centre plans to sell this to state-owned insurance firms to hold have no interference in AI’s operations

  • IRFC's Rs 5,000 cr bond issuance to LIC gets govt guarantee Mar 26, 2018 04:28 PM IST

    IRFC's Rs 5,000 cr bond issuance to LIC gets govt guarantee

    "The Ministry of Finance has approved the Government guarantee of Rs 5,000 crore in the current financial year for the IRFC bonds to be subscribed by the Life Insurance Corporation (LIC)," an official statement said.

  • LIC trims stake in Ashok Leyland by 2.04% Mar 05, 2018 10:56 AM IST

    LIC trims stake in Ashok Leyland by 2.04%

    As per a BSE filing, LIC, which held 5.16 per cent stake in Ashok Leyland earlier, brought down the shareholding in the company to 3.11 per cent.

  • LIC clocks 11.5% growth in premium income at Rs 2.23 lakh crore in 9 months Feb 16, 2018 08:15 PM IST

    LIC clocks 11.5% growth in premium income at Rs 2.23 lakh crore in 9 months

    Life insurance giant LIC today reported an over Rs 2,23,854 crore in premium income for the nine months through December 2017, up 11.47 per cent from Rs 2,00,818 crore a year ago.

  • EXCLUSIVE: UCO Bank requests LIC for equity infusion of Rs 1100-1300 crore Feb 07, 2018 10:17 AM IST

    EXCLUSIVE: UCO Bank requests LIC for equity infusion of Rs 1100-1300 crore

    As on December-end, LIC's stake in the bank stands at 12.12 percent while that of government stands at 80.50 percent

  • LIC adds Rs 60,000 cr to government's disinvestment kitty so far this fiscal Jan 30, 2018 01:09 PM IST

    LIC adds Rs 60,000 cr to government's disinvestment kitty so far this fiscal

    Data from the Life Insurance Council showed that LIC had collected Rs 99783.33 crore of first year premium for April to December period

  • LIC increases stake in PNB to 14% Dec 24, 2017 06:24 PM IST

    LIC increases stake in PNB to 14%

    Life Insurance Corporation's stake in the bank, which earlier stood at 9.89 percent, increased by 4.04 percent to 13.93 percent

  • LIC trims stake in Mastek by 3.09% Dec 13, 2017 11:50 AM IST

    LIC trims stake in Mastek by 3.09%

    As per a BSE filing, LIC, which had 6.14 per cent stake in Mastek earlier, brought down the shareholding in the company to 3.05 per cent.

  • LIC total assets cross Rs 27 lakh crore in H1 of FY18 Dec 05, 2017 04:11 PM IST

    LIC total assets cross Rs 27 lakh crore in H1 of FY18

    The country's largest insurer collected Rs 1.48 lakh crore of total premium for the first six months of this fiscal, showing a growth of 12 percent. The new business premium grew by 23.7 percent in the period to Rs 68224.29 crore on a year-on-year basis.

  • LIC hikes stake in Indiabulls Housing Finance by 2% Nov 15, 2017 04:15 PM IST

    LIC hikes stake in Indiabulls Housing Finance by 2%

    LIC, which had 5.19 per cent stake earlier, increased its shareholding in the company to 7.23 per cent by buying shares between September 28 and November 13, 2017, LIC said in a filing to BSE.

  • LIC raises stake in Coal India to 9.4% Nov 01, 2017 09:51 PM IST

    LIC raises stake in Coal India to 9.4%

    Insurance behemoth Life Insurance Corporation (LIC) of India has hiked stake in state-owned Coal India to 9.4 percent, the coal major said.

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