This refers to “Investor of last resort” (August 3). I agree with your views that the government is using Life Insurance Corporation of India (LIC) to invest in loss-making entities and misleadingly calling them “win-win proposition”. First, it was the increase in investment in the badly indebted IDBI Bank and now in loss-making infrastructure firm IL&FS.
It is extremely disconcerting that the government is using entities like the LIC and the Reserve Bank of India to shore up its finances. In the case of the former, it is a disservice to the millions of LIC policy holders and pension plan owners,
