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Tag: Lic

LIC Announces Relaxation On Insurance Claim Settlement Requirements
Relief For Insurance Policyholders: LIC Announces Relaxation On Claim Settlement Requirements

The Life Insurance Corporation (LIC) has decided to offer relaxations in various claim settlement requirements to make the process easier and hassle-free. The relaxations will kick in from Monday.

LIC Wage Hike
LIC Employees To Get Over 25% Wage Hike As Centre Effects Revised Pay Packets, Check Details

New Delhi: The new fiscal year 2020-21 has started for about 1.14 lakh employees of Life Insurance Corporation of India (LIC) on a happy note with over 25 per cent…

Centre Proposes To Raise LIC's Authorised Capital To Rs 25K Cr
Centre Proposes To Raise LIC's Authorised Capital To Rs 25K Cr

New Delhi: With a view of listing the state-run insurance major Life Insurance Corporation of India (LIC), the government has proposed to raise the authorised capital of LIC to Rs 25,000 crore. As per the amendments proposed under the Finance Bill 2021, the authorised share capital of LIC shall be Rs 25,000 crore divided into […]

LIC IPO May Come In 2nd Half Of FY21, Says Finance Secretary

New Delhi: Listing of insurance behemoth Life Insurance Corporation (LIC) may be done in the second half of the next financial year, Finance Secretary Rajiv Kumar said on Sunday. Finance Minister Nirmala Sitharaman while presenting the Budget 2020-21 on Saturday announced stake sale in LIC through an initial public offer in the next fiscal. There […]

Govt to list LIC on exchanges: FM Nirmala Sitharaman

New Delhi: Government will reduce its stake in state life insurer LIC through an IPO, Finance Minister Nirmala Sitharaman said on Saturday. “Government will list LIC on the stock exchanges”, she said in her Budget speech. This could be the country’s biggest initial public offering in recent times, the government will list Life Insurance Corp […]

Cabinet clears over Rs 9,000 crore capital infusion in IDBI Bank

New Delhi: The government on Tuesday approved over Rs 9,000 crore capital infusion in IDBI Bank with a view to increasing the lender’s capital base. The Union Cabinet has cleared re-capitalisation of IDBI Bank with one-time infusion of funds by both the government and the LIC, Information and Broadcasting Minister Prakash Javadekar told reporters here. […]

SC on stranded migrant labourers
SC agrees to hear case against LIC for 'duping' 5 cr customers

New Delhi: A non-profit organization engaged in promoting financial literacy has moved the Supreme Court, alleging cheating, especially of senior citizens, by the Life Insurance Corporation (LIC) through its Jeevan Saral policy, in which nearly 5 crore policy holders have “lost a big chunk on their principal investment”. The Mumbai-based Moneylife Foundation said it has […]

New scheme to provide social security pension to farmers

New Delhi: The government has evolved a new scheme to provide social security pension of Rs 3,000 per month to farmers above the age of 60 years, the Rajya Sabha was informed Friday. Agriculture Minister Narendra Singh Tomar said the government has approved a pension scheme for all small and marginal farmers (SMF), subject to […]

Cyclone Fani: LIC brings 'quick and simple' home loan

Bhubaneswar: The Life Insurance Corporation (LIC) of India has come up with an easy financial solution for the cyclone Fani affected people in the form of home loans. LIC CEO Siddharth Mohanty on Monday informed that those whose houses were damaged in the severe cyclonic storm Fani, can get loans at a discounted interest rate. […]

Railway recruitment 2019
LIC Jobs 2019: Biggest Ever Vacancy Of Over 8500 Posts, Know All Details  

The Life Insurance Corporation of India, LIC, has invited applications from interested and eligible candidates for the positions of Apprentice Development Officer (ADO). Candidates can apply for the ADO positions now as application submission process has already begun. The last date to apply for the positions is June 9, 2019. LIC Recruitment 2019 vacancy Detail […]

LIC Housing Finance's Q4 net profit up 17%

Mumbai: LIC Housing Finance on Saturday reported 17 per cent rise in its net profit for the fourth quarter (Q4) of 2018-19. According to the housing finance company, its net profit during the quarter under review rose to Rs 693.58 crore from Rs 594.34 crore in the corresponding quarter of the previous fiscal. The firm’s […]

Insurance claim can't be denied due to delay in filing it: SC

New Delhi: Insurance claims cannot be rejected if the reason for delay in filing it is satisfactorily explained, the Supreme Court has said while granting relief to a man who was denied the claim for his stolen vehicle. A bench of Justices R K Agrawal and S Abdul Nazeer said that rejection of the claims […]