LIC Pays divident to Govt

LIC PAYS RS 2,430-CRORE DIVIDEND TO GOVERNMENT FOR 2017-18 MUMBAI: LIC Chairman V.K. Sharma on Friday handed over a cheque of Rs 2,430 crore as dividend for financial year 2017-18 to Finance Minister Arun Jaitley. Speaking to reporters here after meeting the Finance Minister, Sharma said that state-owned Life Insurance Corporation (LIC) recorded a surplus of Rs 48,444 crore during the the last fiscal 2017-18. He said that LIC would also infuse Rs 15,000-20,000 crore into the loss-making IDBI BankNSE -0.83 % struggling with accumulated bad loans. LIC received cabinet approval earlier this year to buy 51 per cent stake in state-run IDBI, which will make the government a minority shareholder in the bank. for Insurance related services, U can call us at 98401 77017 Devarajan www.licdevarajan.com