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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 | August 01, 2018 15:56 IST

  LIC 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 | July 18, 2018 0:08 IST

  According 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 | July 16, 2018 15:28 IST

  Insurance 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 | June 29, 2018 23:52 IST

  Sources 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 | June 26, 2018 19:28 IST

  If 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 | June 25, 2018 16:20 IST

  The 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 | November 14, 2017 19:18 IST

  Life 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 | October 29, 2017 15:06 IST

  Arun 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

  July 25, 2017 20:01 IST

  As 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 14:05 IST

  LIC, 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

  September 17, 2016 12:20 IST

  The 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

  June 23, 2016 18:36 IST

  Government 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

  June 23, 2016 9:29 IST

  New 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

  December 21, 2015 0:09 IST

  New 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

  August 01, 2015 3:25 IST

  Mumbai: 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

  July 26, 2015 14:31 IST

  Mumbai: 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

  July 23, 2015 13:35 IST

  New 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

  April 19, 2015 14:54 IST

  New 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

  March 11, 2015 15:14 IST

  New 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

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  LIC to fund cash-starved Indian Railways

  March 02, 2015 14:02 IST

  New Delhi: As unveiled by Railway Minister Suresh Prabhu in the Rail Budget, Indian Railways is all set to get fresh funds from the Life Insurance Corporation (LIC) of India.Quoting sources in the Railway Board,