LIC hands over ₹1,831.09 cr. dividend cheque to Finance Minister
The Hindu
LIC of India paid ₹1,831.09 crore dividend to Centre for 2022-23. Chairperson Siddhartha Mohanty handed cheque to Union Finance Minister Nirmala Sitharaman. LIC's asset base stands at ₹45,50,571.73 crore with life fund of ₹40,81,326.41 crore. LIC is market leader in Indian life insurance market. Additional Secretary to Centre's Department of Financial Services present at cheque handover.
The Life Insurance Corporation of India (LIC) on Thursday paid a dividend of ₹1,831.09 crore to the Centre for 2022-23.
Chairperson Siddhartha Mohanty handed over the dividend cheque to Union Finance Minister Nirmala Sitharaman. This was the Government of India’s share of dividend and had been approved by shareholders at the AGM last month, LIC said in a release.
As on March 31, LIC’s asset base stood at ₹45,50,571.73 crore with life fund of ₹40,81,326.41 crore. LIC said it continued to be the market leader in the Indian life insurance market even two decades after opening up of the insurance sector.
Additional Secretary to the Centre’s Department of Financial Services, along with LIC’s managing directors M. Jagannath, Tablesh Pandey, Sat Pal Bhanoo and R. Doraiswamy and ZM (I/C) of Northern Zone J.P.S. Bajaj were present when the cheque was handed over.
OpenAI is in advanced talks with private equity firms including TPG, Advent International, Bain Capital and Brookfield Asset Management to form a joint venture
Shares of Samsung Electronics rose as much as 5% on Tuesday after Nvidia CEO Jensen Huang said the South Korean company was producing Nvidia’s new artificial intelligence chips.
Stock markets rebound after early losses, with Sensex and Nifty rising amid global bullish trends despite notable laggards.
The rupee declines 14 paise to 92.42 against the dollar amid rising crude prices and foreign fund withdrawals.
Dell’s total workforce declined by about 10%, or 11,000 employees, in fiscal 2026, it said on Monday
Nvidia chief Jensen Huang on Monday said the leading artificial intelligence chip maker is heading for space with a goal of powering orbiting data centres.
Meta Platforms shares rose nearly 3% on Monday after a Reuters report that the social media giant plans to lay off 20% or more of its workforce to offset heavy spending
Wholesale price inflation hits 11-month high at 2.13%, driven by rising crude prices and increased costs across various sectors.
Kerala's wellness sector faces uncertainty due to the West Asian crisis, impacting tourism and threatening economic stability.
Experts link Punjab's distress migration to economic stagnation and job mismatches, highlighting systemic failures in political leadership.
India's merchandise exports remain flat in February, with Commerce Secretary warning of a potential dip in March due to trade constraints.
Hard Rock International closes 10 outlets in India, including three cafes in Bengaluru, while Goa hotel remains open.
The booming market for artificial intelligence servers brought Taiwan's Foxconn a 24 percent jump in annual net profit, the company said