Life Insurance Corporation of India 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 to have CEO and MD to Substitute Chairman

Life Insurance Corporation of India (LIC) is creating post for Managing Director (MD) and Chief Executive Officer (LIC) instead of having an Executive Chairman. Highlights These changes have been outlined in backdrop of launch a mega initial public offering (IPO). LIC will have instead of an Executive Chairman on the line of public sector banking ..

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SEBI Reconstitutes Takeover Panel

Security and Exchange Board of India (SEBI) has reconstituted its Takeover Panel. About Takeover Panel The takeover panel looks into application that seeks exemption from mandatory open offer which as acquirer needs to make to minority shareholders. N Venkatram MD and CEO of Deloitte India has been appointed as the new member of Takeover Panel. ..

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Government Informs LIC is not being Privatized

The Central Government has informed the Lok Sabha on March 15, 2021 that, the Life Insurance Corporation of India (LIC) is not being privatized. Highlights This information was provided by the government in a reply to a supplementary question during the Question Hour in Lok Sabha. The Minister of State for Finance, Anurag Thakur, also ..

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Life Insurance Council: “Force Majeure” does not apply for COVID-19 cases

On April 6, 2020, the Life Insurance council announced that the “Force Majeure” clause will apply to COVID-19 deaths. Apart from the council, Kolkata Port Trust has also invoked force majeure. What is force Majeure? Force Majeure clause was introduced for unforeseen circumstances. This includes natural disasters, accidents, epidemics, pandemics. Legislation Force Majeure is a ..

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