LIC News: On 1 February Monday, Union Finance Minister Nirmala Sitharaman presented the Union Budget 2021 highlights for the financial year 2021-22 in Parliament. During his budget speech, he announced to sell part of the life insurance corporation of India.
The Finance Minister also announced to launch an IPO to sell the stake during the speech. After the news of LIC’s stake sale, the discussion has intensified again. Concern has also increased among about 25 crore policy holders of LIC. They are beginning to fear that selling the stake is going to affect them too. Stay with us to stay updated with every news in Hindi related to selling stake of LIC .
What to say to the experts – After the announcement of the government to sell its stake in LIC, there was a stir among the policy holders, said the decision of the government will not cause any problem to any customers of LIC. Experts have also advised policy holders not to worry.
Target to raise Rs 1.75 lakh crore in FY 2021-22 – The Narendra Modi government at the Center has set a target of raising Rs 1.75 lakh crore in FY 2021-22 from stake sale in public sector undertakings and financial institutions.
LIC reaches village to village, investment safest
Actually, LIC has access to every village. People consider investing in LIC as the safest and that is why people buy its policy without any hassle. By the way, whenever there is talk of selling stake, the concern among policyholders increases.
Also read: PPF: These are the big benefits of investing in PPF, know how much interest is received
Modi government is preparing to sell two public sector banks
The government is also planning to privatize two public sector banks in 2021-22. The Finance Minister said, apart from IDBI Bank, we propose privatization of two public sector banks and one general insurance company in the year 2021-22. This will require legislative amendments and I propose to introduce amendments in this session itself.
It is worth noting that Finance Minister Nirmala Sitharaman said that while presenting the budget, the initial public offering (IPO) of Life Insurance Corporation (LIC) will come in the next financial year starting from April 1.
The government has already started the process of IPO of LIC. Finance Minister Nirmala Sitharaman said in the 2021-22 budget speech, in 2021-22 we will also bring the IPO of LIC, for which I am bringing necessary amendments in this session. At present, the government holds a full 100 percent stake in LIC. It is likely that LIC will be the largest listed company in the country with a valuation of Rs 8-10 lakh crore in terms of market capitalization.
