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LIC To Be Listed On Stock Exchanges For Govt To Raise Funds
Finance Minsiter Nirmala Sitharaman said at the Union Budget 2020-21 presentation that the government will be listing insurance behemoth LIC as part of its disinvestment initiative. Sitharaman further said that the listing brings in more financial discipline among the entities.
Currently, the government owns 100 percent stake in Life Insurance Corporation of India (LIC).
Share of LIC Housing Finance rose more than 5 percent after the announcement.
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