LIC Current Affairs, GK & News

Initial Public Offering (IPO) of LIC- Highlights

The biggest-ever initial public offering (IPO) of India is by the Life Insurance Corporation of India (LIC). It has been fully booked under all the offered categories What percentage of shares is being sold? LIC’s IPO has received bids for 2.95 times the shares that were being offered. This helped the central government to raise ..

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Amendment in FEMA Rules for LIC

The rules of the Foreign Exchange Management Act (FEMA) have been amended by the government to pave way for up to 20 per cent of foreign direct investment (FDI) in the Life Insurance Corporation of India (LIC). The central government also intends to reduce its stake in LIC through an Initial Public Offering (IPO). Overview: ..

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LIC: India’s largest Initial Public Offering

The Government of India is planning to sell 5% of its share in LIC. LIC is Life Insurance Corporation. With this, the government is trying to raise Rs 65,000 crores. What is the plan? 10% of the shares are being reserved for eligible policy holders. These shares will carry discounted prices. The plan is to ..

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Foreign direct investment in LIC

The Government of India recently decided to allow 20% Foreign Direct Investment (FDI) in LIC (Life Insurance Corporation). This is to be done by amending the Foreign Exchange Management Rules (FEMA). What is the plan? The DFS, DIPAM are to create a plan to amend the FDI in insurance sector after consulting DPIIT. DFS is ..

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LIC launched Mobile App for agents

Life Insurance Corporation of India (LIC) launched a mobile app called “Ananda mobile app” for its agents and intermediaries in order to onboard the prospective customers. Key facts ANANDA stands for Atma Nirbhar Agents New Business Digital Application. ANANDA is the paperless solution for new business processes. This digital application will help in onboarding process ..

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LIC-owned IDBI Bank removed from PCA framework

The Reserve Bank of India (RBI) has removed IDBI Bank from the Prompt Corrective Action (PCA) framework which is the enhanced regulatory supervision of RBI on March 10, 2021. The bank was removed from the framework after four years as a result of its improved financial performance. Background Central bank had enlisted the IDBI Bank ..

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