LIC listing may take about a year, says Finance Secretary Rajiv Kumar
LIC listing may take about a year, says Finance Secretary Rajiv Kumar Kumar said the idea behind the listing of LIC was to “bring in more transparency and allow the company to share gains with its stakeholders” Current Affairs :The posting of Life Insurance Corporation (LIC) will probably take around one year and the administration isn’t happy to sell more than 10 percent stake in the protection behemoth. “We are as of now in contact with the Department of Investment and Public Asset Management (Dipam) to see all the procedures in question. The LIC Act should be altered. It’s unrealistic to do it in a half year and may take around one year,” Finance Secretary Rajiv Kumar said in a media collaboration on Sunday. Kumar said the thought behind the posting of LIC was to “get more straightforwardness and permit the organization to impart additions to its partners”. “It is significant as it will get the divulgence standards,” he said. The sovereign assurance for all arrangem...