UCO Bank said that it would sell 71.7 million shares to LIC on a preferential basis, which could fetch about Rs 270 crore to the bank
Plan is available for sale until August 31, 2017
Few months ago, current chairman S K Roy had written to the government to relieve him of his duties; reason remains unknown
The Life Insurance Corporation of India (LIC) has seen a big rise in its infrastructure and social sector investments in the past three years
More than the regulatory changes the government will have to overcome, it will need to consider LIC's returns and valuation
LIC handed over a dividend of Rs 2,501.76 crore to the government for 2015-16
LIC had 100% growth till August said Zonal manager of LIC K S Nagnyal
The life insurance behemoth is celebrating its diamond jubilee this year
Government had cancelled the post of the fourth MD, the move came even after it interviewed five EDs for the same a year ago
Roy had written to the government to relieve him of his duties from June itself, for personal reasons
In preliminary phase, bank will distribute LIC's life insurance products across its branches
The insurer has hit the 15% equity ceiling in L&T, ITC & Axis Bank
Selection process will begin after acceptance of Roy's resignation by the Appointments Committee of the Cabinet headed by the Prime Minister Narendra Modi
He took charge as chairman of the country's largest insurer on June 29, 2013, had a 5-year term
Approval of his request for being relieved of his duties will be subject to consent of the Cabinet Committee on Appointments
In the Budget, Arun Jaitley had proposed that LIC will set up a dedicated fund to provide credit enhancement to infrastructure projects
Overall, persistency ratio of insurance policies from the fourth year onwards is becoming a concern area for life insurance companies.
Private insurers snap at the heels of the public sector behemoth, closing the gap with the lead insurer according to a survey by IMRB
Banking law caps voting rights at 10% and insurer's holding is over this limit in 18 banks
Healthy growth of net interest income, net interest margin, loan book in quarter