new Delhi. Government-run insurance coverage firm Life Insurance Corporation of India (LIC) is in hassle. People who make investments a big a part of their hard-earned cash in NIC blindly, the danger can be growing. Actually, non-performing asset (NPA) has been hit by LIC. The firm's NPA has doubled in 5 years.
There are about 30,000 crore rupees, which have gone into the NPA. In such a state of affairs, the state of affairs of LIC is getting worse. This is the state of affairs when the precedence from frequent man to businessman is the primary to spend money on LIC. The firm has greater than 100 forms of life insurance coverage, crores of individuals related to these plans and billions of rupees invested in these plans. <! –
But now this LIC is underneath menace.
Explain that because of the money reserves, LIC acts as a troubleshooter for the federal government. LIC has additionally labored to guard public firms and banks by shopping for them shares. But LIC's newest bookkeeping has revealed many stunning particulars. In the primary six months (April-September) of 2019-20, LIC's NPA has elevated by 6.10%.
LIC has acknowledged in its report that as of 30 September 2019, there’s a whole gross NPA of Rs 30000 crore. The report stated that the gross NPA of the corporate in September 2019 was 6.10 p.c which has nearly doubled within the final 5 years.
This NPA is near the non-public sector Yes Bank, ICICI, Axis Bank. Explain that LIC's 25 thousand crore rupees is caught as NPA in Deccan Chronicle, Essar Port, Gammon, IL&FS, Bhushan Power, Videocon Industries, Alok Industries, Amtrak Auto, ABG Shipyard, Unitech, GVK Power and GTL and so forth. .