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

  •   Fri, Nov 30 2018 04:40:24 PM

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.


  

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



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