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LIC gives 30-days extension for premiums due in March, April

Lyrics•by Azlyrics•Posted April 11, 2020•0 Comment(s)

Life Insurance Corporation (LIC) on Saturday announced an extension of 30 days for payment of premium due in March and April 2020 to mitigate the hardships being faced by policyholders in the wake of COVID-19. For February premiums, where grace period was expiring after March 22, relaxation is allowed up to April 15, LIC said in a statement.

Yes Bank crisis to hit LIC customers

Lyrics•by Azlyrics•Posted March 11, 2020•0 Comment(s)

Ahead of the March 31 tax deadline, lakhs of LIC customers might see disruption as the Life Insurance Corporation of India’s nodal bank for NACH debit and cheque clearance is Yes Bank.

Irdai says ‘yet to get’ proposal from LIC on IPO

Lyrics•by Azlyrics•Posted February 18, 2020•0 Comment(s)

Insurance watchdog Irdai is yet to get any proposal from life insurance behemoth LIC on an initial public offering but feels a listing is better from a governance perspective, chairman S C Khuntia said on Tuesday.

Government may have to infuse capital into LIC before IPO

Lyrics•by Azlyrics•Posted February 12, 2020•0 Comment(s)

Besides amending the Life Insurance Corporation (LIC) Act, the government will need to infuse capital into the PSU giant ahead of its initial public offering (IPO). This is because the corporation’s paid-up capital is only Rs 100 crore, which is not enough for a public flotation.

Centre may retain sovereign guarantee for LIC

Lyrics•by Azlyrics•Posted February 3, 2020•0 Comment(s)

The government is likely to retain the sovereign guarantee to Life Insurance Corporation (LIC) and protect interests of policyholders as it seeks to list the insurance behemoth with the aim of improving disclosures, unlocking massive value and sharing wealth with investors, a top official said.

LIC IPO may come in 2nd half of FY21, says finance secretary

Lyrics•by Azlyrics•Posted February 2, 2020•0 Comment(s)

Listing of insurance behemoth Life Insurance Corporation may be done in the second half of the next financial year, finance secretary Rajiv Kumar said on Sunday. Listing of LIC will bring in greater transparency, public participation and also deepen the equity market, he said. Asked about the quantum of dilution, Kumar said, it could be 10 per cent but no decision has been taken so far.