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Life Insurance Corporation of India (LIC) is an Indian multinational public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹ 52.52 trillion (US$610 billion) as of March 2024. [ 4 ]
Life Insurance in India was nationalised by incorporating Life Insurance Corporation (LIC) in 1956. All private life insurance companies at that time were taken over by LIC. In 1993, the Government of India appointed RN Malhotra Committee to lay down a road map for privatisation of the life insurance sector.
The LIC absorbed 154 Indian and 16 non-Indian insurers and 75 provident societies. The LIC had a monopoly until the late 1990s, when the insurance industry was reopened to the private sector. General insurance in India began during the Industrial Revolution in the West and the growth of sea-faring commerce during the 17th century.
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India's waterways network, in the form of rivers, canals, backwaters and creeks, is the ninth largest waterway network in the world. Freight transport by waterways is highly under utilised in India with the total cargo moved (in tonne kilometres) by inland waterways being 0.1 percent of the total inland traffic in India. [ 4 ]
(The Center Square) - San Francisco County Supervisor Matt Dorsey, a Democrat and former addict, is calling for “mass arrests, detox, and treatment” of open-air, often homeless drug users in ...
A man who returned to his Alaska hometown took to social media to document the inflated prices of food and drinks, including an $11 box of cereal. Still, he says it's someplace he'd live again.
The RBI increased the UPI payment limit for payments in hospitals and educational institutions from ₹100,000 to ₹500,000 on 8 December 2023. Multi-factor authentication for UPI e-mandates will now be activated over ₹100,000, as opposed to ₹15,000, for credit card repayments, mutual fund subscriptions, and insurance premium payments. [67]