LIC provisions up, NPAs down ahead of listing: FY21 annual report

LIC's revenue or total income growth in FY21 was the best in five years

State-owned insurance behemoth Life Insurance Corporation (LIC) of India has provided heavily against its debt portfolio and managed to bring down its net non-performing assets (NPAs), as well as gross NPAs, in 2020-21 (FY21).

The corporation has made provisions to the tune of Rs 37,341.6 crore, of which Rs 34,934.97 crore is towards doubtful, sub-standard, and loss assets. Further, it has provided Rs 2,406.63 crore for standard assets, revealed LIC’s annual report for FY21.

In 2019-20 (FY20), LIC had made provisions to the tune of Rs 35,063.04 crore on a debt portfolio of Rs 4.49 trillion. LIC has managed to