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Listing Of LIC: Policyholders' Interest To Be Protected
After Budget 2020 announced diluting its stake in LIC, you too as a likely policyholder would have worried about the fate of your investments in LIC. Nonetheless on February 2, Finance Minister Nirmala Sitharaman instilled confidence in as many as 30 crore LIC customers that their interests shall be well protected.
Further assuring the investors in LIC, the FM said LIC policy will retain its sovereign guarantee.
"We are bringing an initial public offering (IPO) of LIC, and not selling it completely. There will be no change in the ownership," the FM said at a post-Budget media meet.
For the IPO, government is mulling the set up of an inter-ministerial committee that would oversee the behemoth's listing. The stake dilution shall however be not more than 10%, and it shall be as part of the government's divestment drive.
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