Life Insurance Corporation (LIC) News & Updates

Sushubh

Administrator
[OP]
Oct 29, 2004
413,823
12,769
Gurugram
This is kind of a big deal. LIC has money invested by the people of this country. They are being forced to buy a stake in a bank which has massive debts and a very bad record at recovering loans. All this would now be funded by the money invested by the people in LIC. Government basically removed their own liability for the mismanagement at IDBI and pushed it on us.

Twitter Thread:
Source


Thread by @kaul_vivek: "The government is ready to sell IDBI Bank to LIC. This is wrong at multiple levels. Let's try and understand the points one by one. Many ana […]"
 

Sushubh

Administrator
[OP]
Oct 29, 2004
413,823
12,769
Gurugram
this is kind of different because this would require continues investment. to the stage when lic would decide to wind up operations of idbi and shut it down.