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Insurance behemoth LIC on Wednesday posted a more than five-fold jump in consolidated net profit to Rs 13,191 crore for the fourth quarter ended March 2023.

Market value of investments made by state-owned Life Insurance Corporation of India (LIC) in seven companies of the Adani group has swelled to Rs 44,670 crore as stock prices rose this week.

The government has appointed Siddhartha Mohanty as chairman of Life Insurance Corporation of India till June 2024.

Sebi on Thursday barred five entities, including an employee of Life Insurance Corporation of India (LIC), from the securities market and impounded illegal gains of Rs 2.44 crore made by them, in a case pertaining to front-running the trades of the state-owned insurer.

The building, which serves as the southern headquarters of the Life Insurance Corporation of India, was the first skyscraper to be built in India

The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, on Thursday selected Siddhartha Mohanty to head insurance behemoth LIC.

Life Insurance Corporation (LIC) on Wednesday said it has sold 2 per cent of its equity stake in state-owned NMDC, taking its total shareholding in the public sector unit to 11.69 per cent as of March 14.

Mumbai Police on Saturday arrested 38-year-old Pravin Ashubha Jadeja, missing for 15 years, with two gold-plated teeth in his mouth posing as an LIC agent.

LIC chairman M R Kumar on Thursday said the officials of the public sector insurer will soon meet top management of the Adani Group and seek clarification on the crisis being faced by the diversified conglomerate.

Public sector insurer LIC on Thursday reported manifold jump in net income at Rs 8,334.2 crore during the three months ended December 2022 as against Rs 235 crore a year ago.

West Bengal Chief Minister Mamata Banerjee on Thursday expressed concern over the plight of people's deposits in banks, post offices and the LIC, claiming that the existence of such institutions might be at stake in future.

Both houses of the parliament were adjourned for the day amid loud protests and sloganeering from opposition parties demanding a discussion on alleged frauds in investment by public sector institutions like LIC and SBI, causing loss in market value.

Shareholders and customers of state-run Life Insurance Corp (LIC) should not be concerned about its exposure to Adani group, as the insurer is a diversified long-term investor in the market, a top government official told Reuters.

The stock market turmoil created by rout in Adani group shares is a "storm in a tea cup" from a macroeconomic point of view, finance secretary TV Somanathan said on Friday, emphasing that India's public financial system is robust.

"SBI and LIC's exposure to any given company is far below the level where it should be a concern to any investor," Finance Secretary TV Somanathan told NDTV.

Insurance behemoth LIC on Wednesday posted a more than five-fold jump in consolidated net profit to Rs 13,191 crore for the fourth quarter ended March 2023.

Market value of investments made by state-owned Life Insurance Corporation of India (LIC) in seven companies of the Adani group has swelled to Rs 44,670 crore as stock prices rose this week.

The government has appointed Siddhartha Mohanty as chairman of Life Insurance Corporation of India till June 2024.

Sebi on Thursday barred five entities, including an employee of Life Insurance Corporation of India (LIC), from the securities market and impounded illegal gains of Rs 2.44 crore made by them, in a case pertaining to front-running the trades of the state-owned insurer.

The building, which serves as the southern headquarters of the Life Insurance Corporation of India, was the first skyscraper to be built in India

The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, on Thursday selected Siddhartha Mohanty to head insurance behemoth LIC.

Life Insurance Corporation (LIC) on Wednesday said it has sold 2 per cent of its equity stake in state-owned NMDC, taking its total shareholding in the public sector unit to 11.69 per cent as of March 14.

Mumbai Police on Saturday arrested 38-year-old Pravin Ashubha Jadeja, missing for 15 years, with two gold-plated teeth in his mouth posing as an LIC agent.

LIC chairman M R Kumar on Thursday said the officials of the public sector insurer will soon meet top management of the Adani Group and seek clarification on the crisis being faced by the diversified conglomerate.

Public sector insurer LIC on Thursday reported manifold jump in net income at Rs 8,334.2 crore during the three months ended December 2022 as against Rs 235 crore a year ago.

West Bengal Chief Minister Mamata Banerjee on Thursday expressed concern over the plight of people's deposits in banks, post offices and the LIC, claiming that the existence of such institutions might be at stake in future.

Both houses of the parliament were adjourned for the day amid loud protests and sloganeering from opposition parties demanding a discussion on alleged frauds in investment by public sector institutions like LIC and SBI, causing loss in market value.

Shareholders and customers of state-run Life Insurance Corp (LIC) should not be concerned about its exposure to Adani group, as the insurer is a diversified long-term investor in the market, a top government official told Reuters.

The stock market turmoil created by rout in Adani group shares is a "storm in a tea cup" from a macroeconomic point of view, finance secretary TV Somanathan said on Friday, emphasing that India's public financial system is robust.

"SBI and LIC's exposure to any given company is far below the level where it should be a concern to any investor," Finance Secretary TV Somanathan told NDTV.