If successful, the insurance firm would surpass digital payments startup Paytm as India’s biggest IPO; with Rs 50,000 crore in contrast to Paytm's Rs 18,300 crore raised in November 2021.
RBI will enter into sell-buy swaps worth $5 billion with banks on 8 March to elongate the maturity profile of its forward dollar book, it said in a statement Monday.
LIC life insurance policies taken by policyholders for deaths due to all causes would not imply Covid deaths were underreported, the govt said in a statement Saturday.
LIC is a flourishing money tree. But as investors and govt try to pull it their way, the roots that have been kept alive by a trusting Indian middle class over 60 yrs might start to dry up.
Modi govt was expected to bring legal changes in banking laws to facilitate privatisation of PSU banks, but couldn’t after a nationwide protest by bank employees' unions.
So far, the govt has raised Rs 12,029 cr from disinvestments in FY22, Budget has revised target down to Rs 78,000 cr. Assumption is that the rest will be brought in via LIC IPO.
Move comes after FM Sitharaman sharply reduced asset-sale targets at budget announcement, raising questions about how much she plans to raise from the LIC IPO.
Sitharaman said any delay won't be due to a lack of political will. The 65-year old insurer's internal valuation hasn't been done & the process will take time, she added.
Centre for Science and Environment in new report makes case for rationalising GST on waste material, saying most informal operators can’t afford high tax & it also hinders recycling.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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