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30
November 2018
 |
LIC (The
Total Investment & Insurance Solutions)
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. The Total Investment & Insurance
Solutions
He said that LIC would also infuse Rs
15,000-20,000 crore into the loss-making IDBI Bank NSE -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.
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