| LIC Housing Finance Ltd Related news |
Videocon loan row: LIC, govt nominee seek meeting with ICICI Bank brass
Posted on 10th April 2018 |
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The Life Insurance Corporation of India (LIC), which holds about a 9.4 per cent stake in ICICI Bank, and the government’s new nominee on the private lender’s board have called a meeting of the bank’s top management this week. This comes against the backdrop of the recent developments in the ICICI Bank-Videocon case and declining investor confidence. |
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Finance Ministry okays govt guarantee of Rs 5,000-cr IRFC bonds for LIC
Posted on 27th March 2018 |
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To make funds available to the Indian Railways, the ministry of finance has approved government guarantee of Rs 5,000 crore for bonds to be issued by Indian Railway Finance Corporation (IRFC) before the end of this fiscal. These bonds will be subscribed by Life Insurance Corporation of India (LIC). In addition, the finance ministry has also waived the guarantee fee which otherwise IRFC would have paid, thus decreasing the cost of funds for the transporter. |
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LIC faces Rs 25 crore exposure to Gitanjali
Posted on 7th March 2018 |
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MUMBAI: The Life Insurance Corporation of India (LIC) has close to Rs 25 crore outstanding from the Gitanjali group, against which it has security of the group’s Hyderabad Gem Special Economic Zone (SEZ). The corporation had originally extended a loan of Rs 125 crore, a large part of which has been repaid. The only exposure the corporation has to the Nirav Modi/Mehul Choksi groups is a term loan provided for the SEZ. |
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