LIC sees a sharp fall in NPAs from Rs 70.40 bn in Mar to 15.80 bn in Oct

Also, the government informed the Lok Sabha that the gross NPAs in the current financial year of the biggest life insurer has declined by Rs 14.63 billion till October 31, 2018

State owned life insurer, Life Insurance Corporation, has seen a sharp fall in its net non-performing assets from Rs 70.40 billion in March 2018 to Rs 15.80 billion as of October 31, 2018, according to the figures provided by the finance ministry in reply to a question asked by members of parliament in the Lok Sabha.

“With regard to whether there is risk in LIC’s NPAs and clearing of the NPAs, it may be noted that as per LIC’s inputs, the rising trend in LIC’s gross NPAs over the last three financial years has been reversed in the current financial year”,