LIC acquires 2% stake in BPCL
Life Insurance Corporation of India (LIC) bought 4,38,02,790 equity shares or 2.01% stake of Bharat Petroleum Corporation from 11 June 2018 to 28 December 2021. Post transaction, Life Insurance Corporation…
LIC investment income grows by a robust 16.66% in FY21
LIC recorded a robust 16.66 per cent increase in income from investments (including capital gains) in financial year 2020-21 at Rs. 2.73 lakh crore (Rs. 2.34 lakh crore), its annual…
RBI allows LIC to raise holding in IndusInd Bank to 10%
Reserve Bank of India (RBI) has approved the largest insurer in India Life Insurance Corporation to raise its stake in Indusind Bank to up to 9.99 per cent. "We are…
LIC launches new plan, Dhan Rekha
LIC has introduced a plan 'Dhan Rekha' with special rates for women and guaranteed benefits. The benefits include a periodic return of the basic sum insured plus the entire sum…
LIC can hike Kotak stake to 10%: RBI
The RBI has allowed LIC to hike its stake in Kotak Mahindra Bank to up to 9.99% from the current 4.96%. Kotak Mahindra Bank's shares rose 3% following the announcement.…
Link PAN to LIC policies for IPO quota
Life insurance major LIC has asked its policyholders who also have a demat account to link their income tax PAN with their policies so that they can apply in its…
Treat insurance policies as capital assets: ICAI
The Institute of Chartered Accountants of India (ICAI) has suggested that Life Insurance Policies be treated as a capital asset. "It is suggested that Life insurance Policies be treated as…
E-insurance scams on rise
Insurance loan scams are growing, thanks to the compounding effect of cybercrime. More cases have come to light since the D B Marg police in October arrested four persons for…
ICICI Prudential customers to get ‘clickpay’ for making insurance premium payments
ICICI Prudential Life Insurance customers will now be able to make use of the 'ClickPay' facility to pay their insurance premiums. NPCI Bharat BillPay Limited - the wholly-owned subsidiary of…
82% of insurance buyers prefer physical copies of policy documents
The insurance penetration has seen a spike in recent times and over 80 per cent of the insurers prefer a physical copy of their insurance document, according to a recent…