LIC's total domestic investments at Rs 14.8 lakh crore in FY13
Posted By: Religare
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Life Insurance Corporation of India (LIC), India's largest life insurance company and also the country's largest institutional investor, invested a total amount of Rs 14.86 lakh crore in the financial year ended March 2013, said its annual report for 2012-13, reported Business Standard.
The Business Standard report said that LIC's investments abroad stood at Rs 2,408.61 crore in 2012-13.
In the current fiscal, LIC plans to invest Rs 2.25 lakh crore, of which Rs 40,000 crore would be invested in domestic equities. LIC Chairman Usha Sangwan had recently said that insurer has already invested Rs 33,000 crore in equities this fiscal and also booked profits of Rs 14,000 crore, helped by continuous churn in the portfolio.