LIC pays Rs 2,430-cr dividend to government for 2017-18
Friday - November 30, 2018 4:36 pm ,
Category : BUSINESS
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
--IANS mgu-rrb-bc/nir
