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LIC News

LIC ADO recruitment 2019: Vacancies for 1753 ADO posts, apply online

LIC ADO recruitment 2019: There are a total of 1753 ADO vacancies in the various divisional offices under Western Zonal offices, Maharashtra. The online application process will begin from May 20, 2019.

IDBI may now become LIC IDBI Bank or LIC Bank

Last month, the insurance behemoth completed the acquisition of 51 per cent controlling stake in IDBI Bank, marking the entry of more than 60 years old state-owned insurer into the banking space.

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Four names shortlisted for LIC Chairman post

This is the first time that a longer list of four names have been prepared which normally used to have 2 or maximum 3 names on earlier instances

SC to hear appeal against LIC’s acquisition of 51% stake in IDBI

The All India IDBI Officers’ Association said that the LIC’s move to acquire 51 per cent stake in IDBI violated provisions of the Insurance Act.

Delhi HC dismisses appeal against LIC move to acquire 51% stake in IDBI

The IDBI, in which the government holds 85.96 per cent stake, had posted a net loss of Rs 2,409.89 crore in the quarter ended June 2018. It had posted a gross non-performing asset (NPA) of about Rs 57,807 crore.

Delhi HC rejects plea against LIC move to acquire 51 per cent stake in IDBI

Justice Vibhu Bakhru rejected the petition by the All India IDBI Officers Association, which had opposed the move of Life Insurance Corporation (LIC) on the ground that change in shareholding could take away the public sector bank status of IDBI.

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IL&FS crisis: 'Name us but why didn’t Centre name shareholder directors'

Five independent directors on the erstwhile board have written to the newly appointed chairman Uday Kotak on October 2 raising several red flags and elaborating on constraints of long-term finance that plague the infrastructure sector.

IL&FS: Institutions get a breather, board revamp to ease pressure on lenders

When contacted, the top official of a financial institution said: “We have escaped (from bailing out IL&FS) for the time being. It was a good decision by the government to reconstitute the IL&FS board.”

We will not let IL&FS collapse, says LIC, largest shareholder

Incidentally, IL&FS and its subsidiaries Tuesday filed a petition with the Mumbai Bench of the National Company Law Tribunal (NCLT) seeking to restructure debt under Section 230 of the Companies Act 2013.

Government entities to lose big if IL&FS defaults on its debt

The list includes General Insurance Corporation, LIC, SBI Employees Pension Fund, Postal Life Insurance Fund, NPS Trust, Oriental Insurance Company and United India Insurance among others.

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