Life Insurance Corporation
LIC Receives RBI Approval to Acquire 9.99% Stake in HDFC Bank
The RBI has advised LIC to acquire the major shareholding in HDFC Bank within one year, specifically by January 24, 2025.
LIC Secures Income Tax Refund of Rs 25,464 on Interim Bonus
This refund is a resolution to the ongoing dispute between the Income Tax Department and LIC concerning the allowance of interim bonuses paid to policyholders by the corporation as deductible expenditure.
LIC Receives Rs 663 Crore GST Demand Notice
LIC stated in a regulatory filing that it received a communication detailing interest and penalty from the Office of the Commissioner of CGST & Central Excise, Chennai North Commissionerate, on January 1.
‘Allowing LIC time period of 10 years is a welcome step’
He said that the sale stake in LIC would have released a supply of around 40 crore shares of LIC in the market.
Government Extends LIC Exemption from 25% Public Shareholding Rule Until 2032
This rule stipulates that an entity with a market capitalization exceeding Rs 1 lakh crore must ensure a minimum 25 per cent public shareholding within five years of being listed.
LIC of India Secures 4th Position in Global Ranking of Top Life Insurance Companies
The top three spots on the list are occupied by Allianz SE, China Life Insurance Co. Ltd., and Nippon Life Insurance Co. This ranking highlights LIC's substantial presence in the global life insurance landscape and its financial strength, as measured by life and accident & health reserves.
SC Takes Firm Stand on Plea Seeking Probe into LIC and SBI, Calls It College Debate
The Supreme Court, in a recent session, adopted a firm stance on pleas urging an investigation into the operations of Life Insurance Corporation (LIC) and the State Bank of India (SBI).
Govt mulling to relax retirement age of LIC chairman, PSB chiefs
According to reports, State Bank of India (SBI) Chairman Dinesh Khara may get an extension. He had taken charge as SBI chief in October 2020 for three years. As per norms, the SBI Chairman can hold the post until the age of 63. Khara will turn 63 in August next year.
LIC holding in Tech Mahindra increases to 8.8 per cent
Tech Mahindra Ltd provides a comprehensive range of IT services, including IT-enabled service, application development and maintenance, consulting and enterprise business solutions. In May, LIC had announced that its shareholding in Tata Power has increased from 5.917 per cent to 7.935 per cent of the paid-up capital of the said company.
LIC leads 24 member club in terms of policies sold, premium earned
The life insurance industry sold about 2.85 crore policies and schemes down from about 2.91 crore policies sold in FY22 - a fall of 2.19%. Interestingly, the share of government-owned Life Insurance Corporation of India (LIC) in the total is a whopping 2.04 crore (previous year about 2.17 crore) whereas the 23 private life insurers together sold the remaining 81 lakh policies and 74 lakh schemes.
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