LIC pays dividend of Rs 1,634.9 cr to govt

The cheque was presented by LIC's MD, SK Roy

The country’s largest insurer, Life Insurance Corporation (LIC), paid the government a dividend of Rs 1,634.90 crore for 2014-15 on Monday, according to a press statement by the Ministry of Finance. 

The cheque was presented by LIC managing director SK Roy and received by Finance Minister Arun Jaitley.

The budgeted proceeds for the year from dividend from Reserve Bank, other state-owned banks and financial institutions is Rs 62,414.18 crore, while from other state-owned companies, the centre expects proceeds of R s 27,815.10 core.