Government may approve FDI in LIC: Government is planning to approve FDI in LIC before IPO comes.
Government may approve FDI in LIC: The government is planning to give another relief to Life Insurance Corporation of India (LIC), which is planning to bring its mega IPO. Government can allow Foreign Direct Investment (FDI) in LIC.Also Read: How to transfer Rs 10 lakh bank-to-bank through Paytm
Government may allow FDI
According to the information received by Zee Business, the government can soon decide on allowing FDI in LIC. However, so far there is no information about what percentage of FDI the government is going to allow in LIC.Also Read: Now on recharge once, you will get data and free calling for a whole year, Jio, Airtel, Vodafone Idea have launched these great plans
FDI was approved in the insurance sector
It is worth noting that earlier Finance Minister Nirmala Sitharaman had approved 74 percent FDI in the insurance sector in the Union Budget 2021-22 itself. Earlier this limit was 49 percent. However, this was not going to have any effect on LIC, because LIC is a government-owned company, which has been formed through a law passed in the Parliament. In such a situation, for the approval of FDI in LIC, the government will have to take separate approval.Also Read: Get 21GB data and many benefits with free calling in less than Rs 100
LIC’s IPO is coming
The IPO of LIC of the government’s disinvestment program is very important. The government is planning to raise Rs 1 lakh crore through LIC’s IPO. It is believed that LIC’s IPO is going to be the biggest IPO ever in the country.Also Read: Ration Card: Shock to ineligible ration beneficiaries, government is going to take a big step, know
