IANS

LIC pays Rs 2,430-cr dividend to government for 2017-18

Mumbai, Nov 30 (IANS) LIC Chairman V.K. Sharma on Friday handed over a cheque of Rs 2,430 crore as dividend for financial year 2017-18 to Finance Minister Arun Jaitley.

Speaking to reporters here after meeting the Finance Minister, Sharma said that state-owned Life Insurance Corporation (LIC) recorded a surplus of Rs 48,444 crore during the the last fiscal 2017-18.

He said that LIC would also infuse Rs 15,000-20,000 crore into the loss-making IDBI Bank struggling with accumulated bad loans.

LIC received cabinet approval earlier this year to buy 51 per cent stake in state-run IDBI, which will make the government a minority shareholder in the bank.

–IANS
mgu-rrb-bc/nir

(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
(For more latest news and updates Like us on Facebook, Follow us on Twitter. Download our mobile app )

You May Like

Latest Update