14/09/2023 PANINDIA :
Shri Siddhartha Mohanty, Chairperson, LIC of India, today presented the Dividend cheque of Rs. 1831.09 Crore to Ms. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs, as the Government of India’s share of Dividend, approved by the Shareholders in the Annual General Meeting held on 22.08.2023.
Dr. M P Tangirala, Additional Secretary, GOI, Ministry of Finance, Dept of Financial Services was present along with Officials from Life Insurance Corporation of India, Shri M Jagannath ,MD, Shri Tablesh Pandey, MD, Shri Sat Pal Bhanoo, MD, Shri R Doraiswamy, MD and Shri J.P.S.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. Despite two decades of opening up of the insurance sector, LIC continues to be the market leader in the Indian Life Insurance market.