| LIC Housing Finance Ltd Related news |
HC rejects IDBI officers' plea against LIC move to acquire stake in bank
Posted on 17th December 2018 |
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The Delhi High Court on Monday dismissed a plea challenging the LIC move to acquire 51 per cent stake in the Industrial Development Bank of India (IDBI). Justice Vibhu Bakhru rejected the petition by the All India IDBI Officers Association, which had opposed the move of Life Insurance Corporation (LIC) on the ground that change in shareholding could take away the public sector bank status of IDBI. |
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LIC s gross NPAs rise to 6.23% in FY18, cover for bad loans improves
Posted on 11th December 2018 |
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State-owned insurance behemoth Life Insurance Corporation of India (LIC) posted a jump in gross non-performing assets (NPAs) at 6.23 per cent in FY18 over 4.73 per cent in the previous financial year. However, it made higher provisions for bad loans, leading to a marginal decline its net NPAs from 1.96 per cent in financial year 2016-17 (FY17) to 1.82 per cent in FY18. |
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Govt not to participate in LIC’s open offer in IDBI Bank
Posted on 4th December 2018 |
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IDBI Bank Tuesday said government will not participate in LIC’s open offer to acquire 51 per cent stake in the bank. IDBI Bank Tuesday said government will not participate in LIC’s open offer to acquire 51 per cent stake in the bank. |
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Now, you can pay LIC premium through Paytm
Posted on 21st November 2018 |
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Digital payments service Paytm has entered into a partnership with Life Insurance Corp (LIC) to help customers make insurance premium payments, One97 Communications Ltd, which owns the Paytm brand, said on Wednesday. The platform now provides online insurance premium payment solutions for over 30 insurance companies including LIC, ICICI Prudential Life, Reliance Life, Max Life Insurance, HDFC Life, TATA AIA, SBI Life, Aditya Birla Sun Life, Canara HSBC Life Insurance, Shri Ram Life and Star Health among others, the company said. |
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LIC Housing Finance eyes 15-16% growth in FY 2018-19, says Managing Director Vinay Sah
Posted on 2nd November 2018 |
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LIC Housing Finance Ltd was eyeing 15-16 per cent growth rate during the current financial year, a top company official said Friday. After inaugurating the 21st edition of the property fair ‘Ungal Illam’ here, company Managing Director and CEO, Vinay Sah said, “We have targeted to grow at about 15-16 per cent this year. Our H1 (April-September period), growth rate was in the range of 20 per cent.” |
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LIC makes Rs 12,602 crore open offer for IDBI stake
Posted on 5th October 2018 |
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New Delhi: LIC on Thursday came out with an open offer for acquiring 26 per cent equity in IDBI Bank at a price of Rs 61.73 per share, entailing a total payout of over Rs 12,602 crore. Earlier in the day, the IDBI Bank board approved the proposal for issuance of preferential shares in favour of LIC with a view to increase the insurer’s share in the bank up to 51 per cent. |
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Crisis-hit IL&FS can raise Rs 700 billion by selling assets, says LIC
Posted on 29th September 2018 |
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Beleaguered IL&FS can raise up to Rs 700 billion by selling its assets, the Life Insurance Corporation of India Chairman V K Sharma said in New Delhi on Friday. LIC was open to raising stake in the company by participating in its rights issue, he added. |
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LIC may offer a lifeline if IL&FS has a revival plan
Posted on 15th September 2018 |
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With one default behind it, the beleagured Infrastructure Leasing & Financial Services ( IL&FS) will be looking for a lifeline from its shareholders at the board meeting on Saturday. The company’s largest shareholder, Life Insurance Corporation (LIC), is understood to be considering a loan to the defaulting Mumbai-based firm. |
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