LIC presents Rs 1,831.09 cr dividend cheque to FM

NEW DELHI: Siddhartha Mohanty, chairperson, LIC of India, presented a dividend cheque of Rs 1,831.09 crore to Nirmala Sitharaman, Finance and Corporate Affairs minister, approved by the shareholders in the Annual General Meeting held on 22.08.2023. MP Tangirala, additional secretary, GOI, Ministry of Finance, Dept of Financial Services was present along with officials from Life Insurance Corporation of India, M Jagannath, MD, Tablesh Pandey, MD, Sat Pal Bhanoo, MD, R Doraiswamy, MD and JPS Bajaj, ZM(I/C), Northern Zone.

LIC has completed 67 years since its incorporation and beginning with an initial capital of Rs 5 crore in 1956, LIC as at 31.03.2023 has an asset base of Rs 45,50,571.73 crore with life fund of Rs 40,81,326.41 crore.