The finance ministry has extended sovereign guarantee of Rs5,000 crore to Indian Railways Finance Corp.’s (IRFC) bonds to be sold to Life Insurance Corp. of India (LIC).
To make funds available to the Indian Railways, the ministry of finance has approved government guarantee of Rs 5,000 crore for bonds to be issued by Indian Railway Finance Corporation (IRFC) before the end of this fiscal.
The Insurance Regulatory and Development Authority of India (Irda), Indian Railways and Life Insurance Corporation of India are in disagreement over the ‘status’ of the proposed borrowing by the Railways as the regulator demands that the funds belonging to millions of common insurers be ring-fenced as stipulated by regulations, two people familiar with the developments said.
Insurance behemoth Life Insurance Corporation (LIC) of India has hiked stake in state-owned Coal India to 9.4 per cent, the coal major said.
Pushed by LIC, Essar Oil has given an unconditional undertaking to the institution and some of the lenders that their dues would be cleared within three days of the closure of its crucial deal with the Russian firm Rosneft.
India’s top financial institution LIC wants its pound of flesh before it gives the green signal to the $13-billion Essar-Rosneft deal which would be the largest inflow of foreign direct investment into the country
Metals and mining conglomerate Vedanta will invest USD 10 billion in 3-4 years on expanding business across verticals, company’s Chairman Anil Agarwal said.
After months of negotiations, the National Highway Authority of India (NHAI) has finally managed to raise Rs8,500 crore from Life Insurance Corporation (LIC) for a period of 30 years at an interest rate of 7.22% per annum.
Financial powerhouse and largest domestic investor LIC today denied having given its nod to the long-pending merger
Coal India Ltd (CIL) has cleared the proposal of buyback of equity shares following a marathon board meeting on Monday.