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LIC names Shatmanyu Shrivastava as chief risk officer, effective March 19

He is a fellow member of the Institute of Chartered Accountants of India and also a fellow of the Insurance Institute of India (qualified in 2000)

Beware! LIC warns customers against fraudulent calls, fake claims

Country's largest insurance company urges customers to avoid divulging sensitive policy or banking details in response to unsolicited communications

Govt is planning to sell 2-3% LIC stake in FY26, may seek extension

The LIC stake sale may be split into two rounds for better value, with the government likely to seek an extension if market conditions turn unfavourable

LIC Smart Pension Plan? FAQs about new retirement planning scheme answered

Annuity payment can be done yearly, half-yearly, quarterly and monthly, says company

LIC suffers Rs 84,000 crore dent in portfolio amid stock market crash

A large portion of the dip is attributed to the over 10 per cent correction in ITC (Rs 11,863 crore), Larsen & Toubro (Rs 6,713 crore) and State Bank of India (Rs 5,647 crore) shares, thus far in CY25

LIC's Q3 FY25 results: Net profit rises 17% to Rs 11,056.5 crore

Its expenses declined 20.76 per cent Y-o-Y to Rs 14,415.80 crore, aided by a nearly 30 per cent drop in employee-related expenses

LIC Q3 FY25 results: Net profit increases 17% to Rs 11,056 crore

Employee compensation and welfare expenses dropped 30% on year to Rs 6,691 crore

Q3 results today: LIC, M&M, and Mazagon Dock to post earnings on Feb 7

Q3FY25 company results, February 7: Edelweiss Financial, Delhivery, Sun TV, Ola Electric Mobility, and Dreamfolks Services will be among 234 companies releasing report for the Oct-Dec quarter

Life Insurance Corporation gets GST demand notice of Rs 105.42 cr

Life Insurance Corporation of India (LIC) on Wednesday said it has received a demand notice of about Rs 105.42 crore for short payment of Goods and Services Tax (GST) for seven financial years. The company has received a communication/demand order for interest and penalty for several states on February 5, LIC said in a regulatory filing. The order is appealable before the Commissioner (Appeals), Lucknow, it said. The demand notice pertains to seven financial years between 2017-18 and 2023-24, it said. The financial impact of the demand is to the extent of the GST, interest and penalty. There is no material impact on financials, operations or other activities of the corporation, it said.

Life Insurance Corporation gets GST demand notice of Rs 101.95 crore

Life Insurance Corporation of India (LIC) on Tuesday said tax authorities have slapped a demand notice of about Rs 101.95 crore on it for short payment of Goods and Services Tax (GST) for five financial years. The company has received a communication/demand order for interest and penalty for several states, LIC said in a regulatory filing. The order is appealable before the Commissioner (Appeals), Thane, it said. The demand notice pertains to five financial years between 2017-18 and 2021-22, it said. The financial impact of the demand is to the extent of the GST, interest and penalty. There is no material impact on financials, operations or other activities of the corporation, it said.

Reform inefficient succession processes to ease burden on grieving families

The inefficiency of current succession processes not only frustrates grieving families but also undermines the government's ease-of-living agenda

Pension fund market needs diversification: DFS Secretary M Nagaraju

"Ninety per cent of assets are concentrated in only three pension fund managers - SBI, LIC, and UTI," M Nagaraju said

Life insurance Dec new biz premium falls 21.7% to Rs 30,218.71 crore

LIC's premium fell 41.15 per cent Y-o-Y to Rs 13,523.87 crore, while private insurers reported 7 per cent Y-o-Y growth in NBP to Rs 16,694.85 crore

Stocks to Watch, Jan 9, 2025: TCS, TaMo, M&M, Manappuram Finance, LIC, MOIL

Stocks to Watch, Jan 9, 2025: From Tata Motors to Manappuram Finance, here are few stocks that will be on investors' radar today

LIC's Bima Sakhi scheme crosses 50,000 mark within a month of launch

The initiative launched by Prime Minister Narendra Modi on December 9

LIC has Rs 880 cr unclaimed by policyholders: How to check your status

372,282 policyholders have not claimed their maturity benefits, Parliament is told

LIC's unclaimed maturity amounts at Rs 881 cr in FY24: Govt tells LS

Life Insurance Corporation (LIC) has unclaimed maturity amounts of Rs 880.93 crore in 2023-24, Parliament was informed on Monday. As many as 3,72,282 policyholders did not claim maturity benefits during FY2024, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha. During the previous year, he said, the amount worth Rs 815.04 crore belonging to 3,73,329 policyholders remained unclaimed. As many as 10 death claims worth Rs 14 lakh remained unclaimed during 2023-24, he said. In order to reduce the Unclaimed and Outstanding Claims, LIC has undertaken several measures, including print media and digital media advertisement apart from radio jingles for policyholders to claim their due amounts. Outstanding amounts lying in unclaimed accounts are settled in favour of respective policyholders or claimants upon receipt of claim request, he said. Reminder letters are sent through ordinary/speed post as well as through email where available and also SMS are

PM Modi launches LIC's 'Bima Sakhi Yojana' to empower women agents

Prime Minister Narendra Modi on Monday launched the 'Bima Sakhi Yojana' of LIC here under which 2 lakh woman insurance agents will be appointed over the next three years. 'Bima Sakhi Yojana', an initiative of state-owned LIC, is designed to empower women aged 18-70 years who are Class X pass. They will receive specialised training and a stipend for the first three years to promote financial literacy and insurance awareness. Under the scheme, the woman agents will also get a stipend of Rs 7,000 per month for the first year, Rs 6,000 per month in the second year and Rs 5,000 per month in the third year. Bima Sakhis will also get the benefit of commission. The plan is to appoint 2 lakh Bima Sakhi over three years. After training, they can serve as LIC agents and the graduate Bima Sakhis would have the opportunity to qualify for being considered for Development Officer roles in LIC. Prime Minister will also distribute appointment certificates to prospective Bima Sakhis. The Prime Min

Asian Paints shares rise on bourses; here's what driving rally in stock

LIC hiked its shareholding in equity shares from 4,79,66,302 to 6,72,40,527 shares which implies an increase of around 2 per cent.

LIC Bima Sakhi: 10th pass women can work and earn up to Rs 11,000 per month

Women achieving their targets will qualify for commission-based incentives