Free Press Journal
  • Music festival ‘Life In Color’ to have American DJ Diplo perform in India

    New Delhi: Music festival Life In Color (LIC), which is held in countries like China, the US and UK, will debut in India on November 18, and American DJ-record producer Diplo will be a part of it. The festival will also see artists like 4B, Divine and Ritviz performing at Delhi’s Jawaharlal Nehru Stadium. Excited to make their foray into India, Eric Fuller, founder, Life In Color, said in a statement: “Our

  • lic, cdsl, mumbai, lic of india, Mumbai, Central Depository Services (India) Ltd, MoU, DPs

    LIC to insure eligible demat account holders with CDSL

    Mumbai: In a move to reach out to investors, LIC of India’s Mumbai unit signed an MoU with Central Depository Services (India) Ltd (CDSL). This is to provide group insurance coverage to all eligible demat account holder aged between 18 to 59 years serviced through DPs (Depository Participants) associated with it. The group insurance scheme will provide a cover of Rs 1,00,000 for every eligible demat account subject to maximum of Rs

  • LIC board to meet tomorrow to decide IDBI Bank stake hike plan

    New Delhi: The LIC board will meet Tuesday to decide on the modalities for increasing stake in debt-ridden IDBI Bank to 51 per cent, a move that will provide the insurance behemoth entry into the banking space.

  • LIC to buy 14.9% stake in IDBI Bank

    New Delhi : IDBI Bank on Tuesday said Life Insurance Corporation (LIC) will buy 14.9 per cent equity stake in the bank, a move that would eventually lead to acquisition of the majority stake in the state-owned lender.

  • IDBI gets government nod for LIC stake deal

    Mumbai : IDBI Bank on Wednesday said it has received approval to bring down the government stake to below 50 per cent and get acquired by insurance behemoth LIC.

  • Cabinet clears purchase of 51% stake in IDBI bank

    New Delhi: The Cabinet today cleared the purchase of 51 per cent controlling stake in IDBI Bank by state-run insurer Life Insurance Corporation (LIC), sources said. As per the proposal, the debt-laden bank will issue preferential shares to Life Insurance Corporation (LIC) to raise capital.

  • Boards to take call on IDBI-LIC deal: Govt

    Mumbai : The government on Monday sounded evasive about the media reports that it was planning to ask LIC to take a controlling stake in the crippled IDBI Bank, saying the boards of the respective entities will take a call on the matter.

  • LIC comes to the rescue of GIC re

    Mumbai: General Insurance Corporation of India’s (GIC Re) IPO received a lukewarm response from wealthy and retail investors. However, GIC re was rescued after state-owned Life Insurance Corporation of India (LIC) bid for more than half of Rs 15,350 crore bids received.

  • Bhopal: GST will make life insurance costlier

    Bhopal: GST will make buying life insurance cover costlier, said Mukesh Gupta, Zonal Manager (Central region) of the Life Insurance Corporation of India.

  • LIC gives conditional approval for UTI MF’s IPO plan

    Sources in the know said while LIC is willing to dilute some stake in UTI mutual fund, but it is not in favour of exiting the company. It also has reservations regarding the valuation of the company.

  • Indore: Public issues should be released in market by insurance cos: Former MPSE director

    Indore: Former director of Madhya Pradesh Stock Exchange (MPSE), Rajendra Goyal raised questions over the way public money is being collected by private sector Life Insurance Companies (LICs) and suggested that instead of coming out with ‘offer of sale’ by promoters, LICs must bring public issues, which will be really helpful for them. In a letter to chairman of Insurance Regulatory and Development Authority of India (IRDA), TS Vijayan, the chartered accountant

  • LIC keen to buy shares of ‘marquee cos’ held by SUUTI

    Mumbai : State-owned Life Insurance Corp of India (LIC) is keen to buy stakes held by the Specified Undertaking of Unit Trust of India (SUUTI) in blue chip companies whenever the latter decides to sell them, a senior official of the country’s largest insurer said.

  • LIC makes 145% profit in Q1 from stock market

    Mumbai : Life Insurance Corporation of India (LIC) reported a profit of Rs 6,100 crore in the April- June quarter through sale of equities from Rs 2,489 crore in the year-ago period. The company show a growth of 145 per cent in the first quarter, stated V K Sharma, chairman of LIC.