www.i-securesolutions.in : Market big boss now allowed to have 30% holding in single company !!! Good or bad - time will tell.
Hard pressed to meet the Rs 30,000 crore disinvestment target, the Finance Ministry has permitted the state-owned Life Insurance Corporation to invest up to 30 percent in a company as against the earlier ceiling of 10 percent.
The new norms will enable the cash-rich LIC, which invests around Rs 50,000-60,000 crore in equity annually, to pick up higher equity in state-owned companies during the disinvestment process.
The government proposes to sell equity in several state-owned companies like Nalco, Hindustan Copper, SAIL, BHEL, MMTC and Oil India Limited (OIL).
Read full article at :
http://www.firstpost.com/business/govt-allows-lic-to-hold-up-to-30-in-companies-530671.html
Another relevant articles :
LIC should innovate solutions, rather than toying with regulations - Read at : http://economictimes.indiatimes.com/opinion/editorial/lic-should-innovate-solutions-rather-than-toying-with-regulations/articleshow/17330635.cms
LIC as sovereign wealth fund? - Reat at : http://www.financialexpress.com/news/lic-as-sovereign-wealth-fund-/1034998/0
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