“Under this Special Revival Campaign, policies of specific eligible plans can be revived within five years from the date of the first unpaid premium subject to terms and conditions,”
Insurers claimed that even when business was bouncing back to normal from August, growth in renewals is only marginal.
For instance, the government sold equity stakes in BHEL, Engineers India, MMTC, New India Assurance, General Insurance Corporation of India and Hindustan Aeronautics.
There will be a pre-bid meeting on June 30, and the bid can be submitted till July 13. LIC was established in 1956 through an Act of Parliament.
The document mentioned the maturity amount as Rs. 62.50 lakh and believing this to be the case, Subramanian had paid monthly premium of Rs 31,153 for eight long years.
Policyholders have nothing to fret about as Centre offloads 10% stake in the insurance behemoth, but from an investment point of view, it could shake up the financial markets
'As an immediate reaction to the proposal to list LIC, All India LIC Employees Federation will hold a one-hour walk-out strike on February 4,' the union said in a statement.
Insurance Regulatory and Development Authority on Friday cleared the decks for state-run Life Insurance Corporation to go beyond the normal threshold and acquire up to 51 per cent stake in IDBI Bank
State-run LIC, the black knight for IDBI Bank, can hold as much as 30 per cent equity stake in an entity as a strategic promoter, according to sources.
While the board initially rejected allegations of quid-pro-quo by Kochhar in the Rs 3,250-crore loan given to Videocon Group, it is now reportedly split down the middle on the fate of the banker.