Mobility paves Samsung’s silver path
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
Selling LIC’s stake will wreck the economic security of 40 crore citizens (one-third of India’s population), which the government is not able to provide otherwise, said the LIC Agents’ Organisation of India (LICAOI).
LIC has been providing policyholders this security over the past 64 years, said PG Dileep, General Secretary, LICAOI.
Any stake-sale has to go through certain sets of processes and procedures. First of all, Parliament has to pass the Budget. Then, an amendment Bill has to be brought up, which needs to be passed by the Lok Sabha and Rajya Sabha. After the Bill becomes an Act, it has to be approved by the SEBI and IRDAI. This will be referred to the board of the LIC, which has to accept it, following which it will be listed in the market. Once the sale of one tranche takes place, future sales will need only a Cabinet decision.
While the Centre’s investment in LIC is merely ₹5 crore, its present asset value is ₹31.5- lakh crore and the Life Fund ₹29.8-lakh crore. Dividend paid to government last year is ₹2,418.98 crore and ₹26,008 crore over the last 17 years.
The LIC’s basic slogan has been ‘Peoples’ Money for Peoples’ Welfare.’ Ninety-five per cent of its profit is shared with policyholders as bonus. Only balance five per cent is given to government as dividend, Dileep pointed out.
The LIC has deposited ₹10.34-lakh crore in government securities. Investments in the state social security sector is ₹8.44-lakh crore and ₹2.61 lakh crore in the central social security sector. Other significant investments include ₹54,285 crore (housing); ₹65,620 crore (roads, ports, bridges and railways); ₹1.08 lakh crore (power); and ₹1,500 crore (irrigation, water supply and sewage).
LIC has also also offered to give ₹70,000 crore on a long-term basis at very low interest for railway development. The insurer’s claim settlement has been a global model, with track record for the last 15 years being 98.35 to 99.99 per cent.
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
Antrix should adopt a different tactic than merely fighting over jurisdiction: Experts
Invest in relationships, enterprise, behaviour, effort and learning
From different types of osmoses to new membranes, researchers have come up with ways of drawing water
What filters should you apply when mining for under-the-radar small-cap stocks? Read on to find more
High valuation, intensely competitive landscape and small cap nature of the stock are key risks.
Amid choppiness, the benchmark indices slipped marginally; approach the week with caution
SBI Cards (₹1,032.7): Witnesses fresh breakoutBetween September and December last year, the stock of SBI Cards ...
That weekend came the news that Champa’s elder daughter was engaged, the proof arriving in the form of Jaimini ...
“Amma,” Divya yelled from the bathroom. “There’s something in my teeth.”Balakrishnan and Veena froze and ...
What makes the new crop of young Indian cricketers such game-changing winners? Over and above their talent, ...
For their dead, Parsis practise a 3,000-year-old system where corpses are excarnated in the Tower of Silence, ...
WPP agency Wunderman Thompson has launched its annual Future 100 report, lifting the lid on trends shaping the ...
Paneer, once alien to the South, has found a lucrative market in Chennai
Social media influencers are flipping the rules by first getting followers and then launching products and ...
The Flipkart kids playing adults are back — this time to push the home grown e-commerce marketplace’s grocery ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor