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LIC policyholders carry disinvestment can

Notional losses on insurer?s PSU shopping spree at Rs 3,038 crore or 25 per cent of investment

Small policyholders of the country’s largest life insurer are carrying the can for the government’s ambitious disinvestment programme. Almost all of Life Insurance Corporation (LIC) of India’s investment calls in the government’s disinvestment programme that restarted in 2009 have gone wrong, resulting in huge notional losses for policyholders in the underlying schemes. According to data compiled by the BS Research Bureau, LIC has invested around Rs 12,400 crore in seven recent divestment issues since 2009, accounting for a quarter of more than Rs 45,000 crore through ...