lic: Govt to amend FDI policy to boost LIC public offer

NEW DELHI: The government is set to amend the foreign direct investment policy to facilitate the mega public issue of Life Insurance Corporation of India (LIC), planned for this quarter.
While 74% FDI is permitted in insurance sector, the rules do not apply to LIC. Anurag Jain, secretary in the department for promotion of industry and internal trade (DPIIT), said the current policy related to the sector will not facilitate the disinvestment process of LIC and, hence, needs to be revised.
“We are working on further simplification of the FDI policy. A very important point for further simplification is required urgently as we have to do the LIC disinvestment. So, we would be coming out with a revised FDI policy which will facilitate LIC disinvestment,” he told reporters here.
The matter is being discussed with the department of financial services (DFS) and department of investment and…

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