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Thursday, March 28, 2024
TopicLIC

Topic: LIC

Modi govt set to begin LIC’s mega IPO process in June

Modi government is keen to go ahead with LIC’s IPO — potentially India’s biggest — to help plug a widening budget gap. LIC had total assets of Rs 32 lakh crore in FY 2019-2020.

Cabinet approves strategic disinvestment, transfer of management control in IDBI Bank

According to the statement, the extent of respective shareholding to be divested by govt & LIC will be decided at the time of structuring of transaction in consultation with RBI.

Govt confident of privatising Air India, BPCL by first half of 2021-22 — divestment secretary

Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management, says the government's exit from many sectors will help it to neutrally administer its policy-making role.

BPCL gets multiple bids, but Modi govt set to miss Rs 2.1 lakh crore disinvestment target

Govt has also started process for independent valuation of LIC, which is necessary before the insurance major is listed on the stock markets.

Modi govt to seek cabinet approval to sell 25% stake in LIC in tranches

Mumbai: India is planning to seek cabinet’s approval to sell 25% stake in the nation’s largest life insurer, people with knowledge of the matter...

Modi govt has run out of excuses to delay disinvestment — even stock market is ready

Modi government is unlikely to earn the money it had hoped to this year due to Covid. The last thing it needs is slowing down on Rs 2.1 lakh crore disinvestment plan.

Why Modi govt has made a good call to move out of all non-strategic sectors

Government participation in the market should be the exception, and not the norm. The latest bid to disinvest is a step in the right direction.

Modi govt begins LIC IPO process, but valuation will pose a major challenge

The listing of India’s largest life insurer has to be preceded by many steps, including amendments to the LIC Act and determining its valuation.

Yes Bank crisis shows why India needs a resolution mechanism to act before it is too late

Yes Bank should’ve been overseen by a Resolution Authority, depositors shouldn’t have had to face moratorium. Now SBI or LIC shouldn’t be forced to buy it.

How the LIC mega IPO can also help reform India’s larger financial sector

If done right, IPO can bring transparency & efficiency to LIC, ensure govt doesn’t force it to buy weak PSUs, and improve resource allocation in the economy.

On Camera

Profit margins in lottery industry are tiny. Here’s how Future Gaming paid for its electoral bonds

Neither state govts nor companies earn large profits from lotteries. However, a look at the system shows there’s ample evidence of murky dealings and financial irregularities. 

Amid plans to lift AFSPA, Army starts training Jammu & Kashmir cops 

In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.

For BJP, Kejriwal is an idea whose time has come to be destroyed

The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.