Life Insurance Corporation: The country’s largest insurance company Life Insurance Corporation of India (LIC) has planned an investment of Rs 2.4 trillion during the next financial year. In the financial year starting from April 1, LIC will invest in other listed companies of the market apart from shares of locally traded companies. It has been said in the report that this investment can also be less.
This will be the biggest investment by Life Insurance Corporation of India. According to Mint’s report, not only LIC, but also those investing in its policy can get higher returns from this investment. Apart from this, it can serve as an important support system for the Indian market in FY2024.
How much can LIC invest
It has been said in the report that about 35 percent of the total investment or Rs 80 thousand crore to Rs 85 thousand crore can be allocated in the shares of listed companies in India. This scheme from LIC has come at a time when most of the investors are pulling back from the global market including India due to fear of risk. In the midst of the global crisis, this kind of investment can strengthen the Indian market.
Foreign investors are pulling back!
Foreign investors sold Indian shares worth Rs 1,720.44 crore, while domestic institutional investors, including insurance companies, bought shares worth Rs 2,555.53 crore during the week ended March 24. At the same time, shares worth Rs 28,852 crore and Rs 5,294 crore were sold by FPI during January and February. 7233 crore has been invested by FPI in March.
LIC will invest here too
Life Insurance Corporation of India can also be in Government of India Bonds, State Development Loans, Deposit Schemes, Commercial and Debentures. After being listed last year, LIC registered a 13 per cent increase in revenue at Rs 1.96 trillion in December. Its net profit has increased 26 times to Rs 6,334 crore. At the same time, the net premium income has increased by 15 percent to Rs 1.12 trillion. LIC’s income from investments increased to Rs 84,889 crore at the end of December from Rs 76,574 crore a year ago.
read this also
MGNREGA Wage Hike: MNREGA workers got a gift, the rate of wages increased, know how much you will get in your state