The LIC had a shareholding of 4.05 per cent before, which has now increased to 7.1 per cent. The latest transaction shows LIC's confidence in the potential growth of there bank.
The LIC's move comes after a proposal to introduce composite insurance companies, allowing life insurers to offer hospitalisation and indemnity coverage, pending an amendment to the Insurance Act.
As May unfolds, several financial changes are on the horizon, impacting mutual fund investors and banking customers alike. While not as transformative as previous months, these changes demand attention and awareness.
The same stood at Rs Rs 5.91 crore as against Rs 1.69 crore reported in the corresponding quarter a year ago.
Business news: The RBI has said that all branches of the banks dealing with Government receipts and payments will remain open for transactions on March 30 and March 31 to account for all the Government transactions relating to receipts and payments in the FY 2023-24 itself.
The public sector company's net premium income rose to Rs 1.17 lakh crore from Rs 1.11 lakh crore in the same quarter a year ago.
LIC profit rises: LIC's total income increased to Rs 2,12,447 crore in the latest December quarter compared to Rs 1,96,891 crore in the year-ago period.
Its net premium income eased to Rs 1,07,397 crore in the second quarter of the current fiscal, from Rs 1,32,631.72 crore in the same period a year ago.
The accused woman had escaped to Gaya and started living in a rented accommodation after the investigating agencies arrested the LIC who was involved in this fraud case.
Over 13 lakh LIC agents and more than 1 lakh regular employees will benefit from these welfare measures, said the Ministry of Finance.
The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, in June had recommended the name of Doraiswamy as MD.
LIC in a statement said it is reaching out to the affected people to provide assistance although the loss of lives has been minimal.
All 24 life insurers had a collective new business premium income of Rs 24,480.36 crore in the same month a year ago (May 2022).
Life Insurance Corporation of India, LIC has made a big announcement for the victims of the train accident in Balasore, Odisha. The corporation has relaxed many rules and has also issued a helpline number (022-68276827) for information.
LIC advanced 1.62 per cent to settle at Rs 603.55 on the NSE. Its stock settled with a gain of 1.69 per cent at Rs 603.60 on the BSE.
The LIC recorded a multi-fold increase in the net profit to Rs 35,997 crore for Financial Year 2022-23.
Last month, the Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, recommended Mohanty's name as chairman of LIC.
LIC ADO 2022 mains exam is scheduled to be held on April 23 at various exam centers. Check vacancy details, direct link to download call letters and more.
LIC ADO Prelims Result 2023: Candidates who took the exam can check and download LIC ADO Prelims Result 2023 through the official website-- licindia.in.
LIC policyholders can utilise WhatsApp services to receive a variety of services including premium information and ULIP plan statements.
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