SME Times News Bureau | 30 Nov, 2018
LIC Chairman V.K. Sharma on Friday handed over a cheque of Rs 2,430
crore as dividend for financial year 2017-18 to Finance Minister Arun
Jaitley.
Speaking to reporters here after meeting the Finance
Minister, Sharma said that state-owned Life Insurance Corporation (LIC)
recorded a surplus of Rs 48,444 crore during the the last fiscal
2017-18.
He said that LIC would also infuse Rs 15,000-20,000 crore into the loss-making IDBI Bank struggling with accumulated bad loans.
LIC
received cabinet approval earlier this year to buy 51 per cent stake in
state-run IDBI, which will make the government a minority shareholder
in the bank.