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IDBI Bank approves issuance preference shares to LIC
Business | Aug 31, 2018, 04:58 PM ISTEarlier this month, the Union Cabinet had approved LIC's proposed acquisition of up to 51 per cent stake in debt-ridden IDBI Bank.
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LIC-IDBI deal get Cabinet's nod, buy out to infuse over Rs 10,000 crore in debt-laden bank
Business | Aug 01, 2018, 03:56 PM ISTLIC already has 7-7.5 per cent stake in the bank and will acquire the remaining for majority holding.
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IDBI to seek central government's nod on LIC's proposal to acquire 51 per cent stake in debt-ridden lender
Business | Jul 18, 2018, 12:08 AM ISTAccording to a BSE filing, the lender received LIC's proposal to acquire the controlling stake, as a "promoter through preferential allotment of shares or open offer" on Monday.
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LIC gets approval to buy 51% stake in debt-ridden state-owned IDBI Bank, to get control over 2,000 branches
Business | Jul 16, 2018, 03:28 PM ISTInsurance regulator IRDAI has already given its approval to the insurer for the stake purchase.
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LIC gets regulator IRDAI's nod to pick up to 51% stake in debt-ridden IDBI Bank
Business | Jun 29, 2018, 11:52 PM ISTSources added that if the deal goes through, the IDBI Bank would get a capital support of Rs 10,000-Rs 13,000 crore.
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LIC planning to enter banking space by acquiring majority stake in IDBI Bank: Report
India | Jun 26, 2018, 07:28 PM ISTIf the LIC becomes a major stakeholder in IDBI Bank, it could be beneficial for both state-owned financial players in the long run.
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IDBI-LIC stake deal: FinMin official says boards to take a call
Business | Jun 25, 2018, 04:20 PM ISTThe media reports also said the government had sought the views of insurance regulator IRDAI and markets watchdog Sebi on the move. IRDAI does not allow LIC or any other insurer to own more than 15 per cent in any company.
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LIC launches cancer cover with sum assured up to Rs 50 lakh
Business | Nov 14, 2017, 07:18 PM ISTLife Insurance Corporation of India (LIC) on Tuesday announced the launch of a cancer cover as a health insurance policy with sum assured ranging from Rs 10 lakh to Rs 50 lakh.
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LIC may participate in bank recapitalisation programme
Business | Oct 29, 2017, 03:06 PM ISTArun Jaitley last week said that there were multiple options before the government for recap bonds and they are being examined and the best ones would be explored.
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IRDAI asks LIC to trim its shareholdings in listed firms to 15 pc within two years
Jul 25, 2017, 08:01 PM ISTAs per the regulatory norms, an insurance firm is restricted from holding more than 15 per cent of shares in any listed firm.
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Three MDs to collectively decide on LIC investments now
May 14, 2017, 02:05 PM ISTLIC, which manages Rs 25 trillion of assets, has divided its investment portfolio among the three managing directors so that a more balanced decision can be taken.
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VK Sharma replaces SK Roy as LIC chairman
Sep 17, 2016, 12:20 PM ISTThe government has replaced SK Roy as chairman of state-owned Life Insurance Corporation of India with Managing Director VK Sharma. Roy resigned in June, nearly two years ahead of his retirement.
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Govt likely to pick new LIC chief by next month
Jun 23, 2016, 06:36 PM ISTGovernment will soon start the selection process of new LIC chairman following the premature exit of the incumbent, S K Roy, and complete the whole exercise by the next month.
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LIC chairman S K Roy quits two years before his term ends, 2nd high profile exit in a week after Rajan
Jun 23, 2016, 09:29 AM ISTNew Delhi: Life Insurance Corporation of India (LIC) Chairman S K Roy, appointed by the previous UPA government, has resigned two years ahead of completion of his five-year term. Roy, who took charge as
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Government sells $5-billion PSU shares in 2015, readies next year pipeline
Dec 21, 2015, 12:09 AM ISTNew Delhi: The government's disinvestment kitty has almost doubled this year with over Rs 35,000 crore garnered through stake sales in PSUs, but not without the help of its all-time saviour Life Insurance Corporation (LIC),
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LIC chief S K Roy elected Chairman of apex body of insurers
Aug 01, 2015, 03:25 AM ISTMumbai: Life Insurance Corporation (LIC) chief S K Roy was yesterday elected as Chairman of the Life Insurance Council, the apex industry body of insurers in the country.Roy was elected in a poll conducted among
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LIC elevates two more women to top brass
Jul 26, 2015, 02:31 PM ISTMumbai: With women officers already heading most of its subsidiaries, the Life Insurance Corporation (LIC) is continuing with the trend to place them in bigger roles. The trend began with the appointment of Usha Sangwan as
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railway ministry meets banks heads
Jul 23, 2015, 01:35 PM ISTNew Delhi: The railway ministry and its PSU Indian Railway Finance Corporation hosted a meeting of banks and financial institutions over an investment plan of Rs.8.5 lakh crore in the coming five years to strengthen and
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LIC Buys Rs 300-Crore Infosys Shares in Q4
Apr 19, 2015, 02:54 PM ISTNew Delhi: Life Insurance Corporation (LIC) has shored up its stake in Infosys to 4.81 per cent, purchasing shares worth over Rs 300 crore in the January-March quarter.This is the fourth consecutive quarter of share
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LIC to invest Rs 1.5-L cr in Indian Railways over next 5 years
Mar 11, 2015, 03:14 PM ISTNew Delhi: State-run insurance major LIC on Wednesday committed Rs 1.5 lakh crore to the Indian Railways for development of various commercially viable projects in one of the largest railway networks in the world.The investment