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Life Insurance Corporation of India (LIC) is an insurance and investment corporation. The Parliament of India passed the Life Insurance of India Act on 19 June 1956 creating the Life Insurance Corporation (LIC) of India, which started operating in September 1956. It consolidated the business of 245 private life insurers and other entities offering life insurance services; this consisted of 154 life insurance companies, 16 foreign companies and 75 provident companies. The LIC's executive board consists of Chairman and Managing Directors. The Central Office of LIC is based out of Mumbai which sits the Chairman, all four Managing Directors, and all Executive Directors (Department Heads). LIC has a total of 8 Zonal Offices namely Delhi, Chennai, Mumbai, Hyderabad, Kanpur, Kolkata, Bhopal & Patna. From its creation, the Life Insurance Corporation of India, which commanded a monopoly of soliciting and selling life insurance in India, created huge surpluses and by 2006 was contributing around 7% of India's GDP. The LIC has 22 departments each headed by an Executive Director namely Marketing, Bancassurance (B&AC), Corporate Communication, Personnel, CRM, Direct Marketing, E&OS, F&A, IT/BPR, Inspection, Investment, SBU/Estates, Investment Operations, P&GS, Actuarial, Chairman Sectt, F&A, Micro Insurance, RTI, HRD, Engineering, and Vigilance. More

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112 Results Found
  • Profit-taking, PSU divestment sucking mkt liquidity: Vijay Feb 04, 2013 09:30 AM IST

    Profit-taking, PSU divestment sucking mkt liquidity: Vijay

    In an interview to CNBC-TV18 portfolio manager PN Vijay shared reading and outlook on the market.

  • Strong response to QIP; NTPC may rise 30%: Axis Cap Jan 29, 2013 11:38 AM IST

    Strong response to QIP; NTPC may rise 30%: Axis Cap

    Manish Chokhani, MD & CEO, Axis Capital and Dharmesh Mehta, MD-institutional equities, Axis Capital explain in a discussion on CNBC-TV18 that there been a very strong response to the Axis Bank QIP whose price was set at Rs 1,390 per share. The QIP witnessed participation from most of the major long-only investors and pension funds.

  • Expect to invest over Rs 20,000cr in equities in Q4: LIC Jan 22, 2013 12:05 PM IST

    Expect to invest over Rs 20,000cr in equities in Q4: LIC

    Over the last few months, there have been reports of domestic institutional selling in the market. However, S Sarkar, Managing Director of LIC said they have been net buyers in the equity market in 2012 and they are not selling into the rally.

  • See Nifty at 6100 before RBI policy; buy on dips: VK Sharma Jan 10, 2013 09:58 AM IST

    See Nifty at 6100 before RBI policy; buy on dips: VK Sharma

    In an interview to CNBC-TV18 VK Sharma of HDFC Securities shared reading and outlook on the futures and options market.

  • Does your insurance policy best suit your needs? Dec 12, 2012 03:11 PM IST

    Does your insurance policy best suit your needs?

    In an interview to CNBC-TV18 Hemant Rustagi, Wiseinvest Advisors shared his reading and outlook on various policies/plans offered by Life Insurance Corporation of India (LIC).

  • See no major upside for Nifty, Sensex now: Angel Broking Dec 10, 2012 10:01 AM IST

    See no major upside for Nifty, Sensex now: Angel Broking

    In an interview to CNBC-TV18 Rajen Shah, chief investment officer CIO, Angel Broking shared reading and outlook on the Indian equity market. He expects both the Sensex and the Nifty to move in small range, but suggests focusing on broader market. "Sensex would be in this range of 19,000-20,000," he added.

  • Punjab & Sind Bank has target of Rs 100: Tater Dec 04, 2012 10:22 AM IST

    Punjab & Sind Bank has target of Rs 100: Tater

    Punjab & Sind Bank has target of Rs 100 from short-term perspective and at Rs 125 the stock would be fully priced, so almost 80-90 percent upside even from current levels, says Aashish Tater, Head of Research, Fortunewizard.com.

  • Parl stalemate: Not very optimistic about Mon, says Tulsian Nov 23, 2012 08:01 PM IST

    Parl stalemate: Not very optimistic about Mon, says Tulsian

    In an interview to CNBC-TV18, SP Tulsian of Sptulsian.com informed that they have scheduled this all party meet on Monday to discuss on FDI. He feels that this is seen more as a political agenda and nobody is interested in having a healthy discussion.

  • Market seen touching new benchmark of 2012 by Diwali: LIC Oct 18, 2012 12:16 PM IST

    Market seen touching new benchmark of 2012 by Diwali: LIC

    Analysts are betting big on the Indian market and expecting to see some more fireworks by Diwali or year-end. DK Mehrotra, Chairman of LIC believes that the market has started improving and is expected to reach new benchmark for 2012 by Diwali.

  • Service tax rejig to help boost sector: Ex-LIC Chmn Oct 03, 2012 10:55 AM IST

    Service tax rejig to help boost sector: Ex-LIC Chmn

    Former LIC Chairman SB Mathur says the cost of insurance had gone up enormously, especially in the case of single premium products. He says tax sops are important in long-term products like insurance and pension schemes.

  • Insurance cos may be allowed to invest upto 20% in equities Aug 08, 2012 04:04 PM IST

    Insurance cos may be allowed to invest upto 20% in equities

    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.

  • Switch equity funds post lock in period to ELSS schemes Jul 06, 2012 04:00 PM IST

    Switch equity funds post lock in period to ELSS schemes

    In an exclusive interview to CNBC-TV18, Harsh Roongta, CEO, Apnapaisa.Com answers investors' personal finance queries. Roongta is of the opinion that once the three year lock-in period for tax saving funds is over, investors should look at switching them into regular equity funds.

  • Have a short term investment goal? Invest conservatively Jun 22, 2012 02:36 PM IST

    Have a short term investment goal? Invest conservatively

    In an interview to CNBC-TV18, Certified Financial Planner Gaurav Mashruwala answers investors' personal finance queries. According to Mashruwala, if you have a short time horizon, keep a conservative approach to investing.

  • No advance tax cheer for taxman; growth seen at 5-6% Jun 14, 2012 10:18 PM IST

    No advance tax cheer for taxman; growth seen at 5-6%

    CNBC-TV18‘s Ashmit Kumar reports that overall numbers advance tax may not bring cheer for the taxman.

  • Ready to do what pleases the customer: Analjit Singh May 03, 2012 05:02 PM IST

    Ready to do what pleases the customer: Analjit Singh

    Analjit Singh

  • I-T catches LIC in sights, slaps bill of Rs 9k cr Apr 27, 2012 08:36 PM IST

    I-T catches LIC in sights, slaps bill of Rs 9k cr

    CNBC-TV18‘s Ashmit Kumar, quoting sources, reports that the taxman has slapped government-owned insurance giant LIC with a notice to pay a tax of Rs 9,000 crore

  • Standing committee to scan purchase of ONGC shares by LIC Apr 24, 2012 06:13 PM IST

    Standing committee to scan purchase of ONGC shares by LIC

    CNBC-TV18‘s Rituparno Bhuyan reports that the Parliamentary standing committee on finance has sought an investigation into the purchase of ONGC shares by public sector insurer LIC

  • Escorts promoters shores up stake fearing takeover threat Apr 19, 2012 09:48 PM IST

    Escorts promoters shores up stake fearing takeover threat

    Escorts could face a hostile takeover threat and the company has shored up its promoter stake by 5% in last 2-3 weeks in a bid to prevent it, reports CNBC-TV18's Swati Khandelwal Jain quoting sources.

  • The ONGC Maha Auction, Maha Failure! Mar 12, 2012 02:54 PM IST

    The ONGC Maha Auction, Maha Failure!

    On March 1st, the government in a disinvestment move launched India’s first OFS or offer for sale- an auction of sorts.

  • Don't regret setting ONGC floor price at premium: Govt Mar 05, 2012 09:46 PM IST

    Don't regret setting ONGC floor price at premium: Govt

    Siddharth Pradhan, additional secretary of the Department of Disinvestment, tells CNBC-TV18 that they do not regret setting the ONGC auction floor price at a premium.

  • LIC, BoB & Citi to partner ICICI in setting up IDF: Kochhar Mar 05, 2012 06:19 PM IST

    LIC, BoB & Citi to partner ICICI in setting up IDF: Kochhar

    Managing director and chief executive of ICICI Bank, Chanda Kochhar today said that their infrastructure debt fund (IDF) will be set up in partnership with Bank of Baroda, LIC and Citigroup.

  • Govt equity may go up to 71% post pref issue: IDBI Bank Mar 03, 2012 12:43 PM IST

    Govt equity may go up to 71% post pref issue: IDBI Bank

    About 5% of the issue will be given to LIC as a preferential allotment, informs RK Bansal, ED & CFO of IDBI Bank.

  • Quite close to market, only stock-specific movement noted Mar 02, 2012 07:17 PM IST

    Quite close to market, only stock-specific movement noted

    From early on this morning, it appeared that the market would be range bound. At no point did it show extraordinary strength or weakness. It is perhaps waiting for election results on Tuesday to make a more decisive move, says Udayan Mukherjee, managing editor, CNBC-TV18.

  • ONGC auction: Uncovering the mystery of 12 crore shares Mar 01, 2012 10:07 PM IST

    ONGC auction: Uncovering the mystery of 12 crore shares

    Where did the mysterious 12 crore shares of the ONGC auction come from? Sajeet Manghat of CNBC-TV18 has the full story. Check it out!

  • BoB expects rate cut in April; to sell 5% share to LIC Feb 28, 2012 03:36 PM IST

    BoB expects rate cut in April; to sell 5% share to LIC

    After Punjab & Sind Bank, Bank of Baroda is now set to sell 5% shareholding to LIC. Speaking to CNBC-TV18, RK Bakshi, executive director of Bank of Baroda says that an FPO is more difficult and is costlier to raise money. "Preferential issue to LIC is the most convenient option," he says.

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ISO 27001 - BSI Assurance Mark