LIC dumps subsidiary SHCIL: how it will dampen competition and weaken market infrastructure


Life Insurance Corporation of India’s (LIC) constructing at Parliament Street in New Delhi on February 4, 2021.

Synopsis

In the curiosity of the ecosystem, LIC wants to think about the long-term influence of its determination, which will lead to pointless consolidation of revenues and cut back competitiveness. As the nation’s largest monetary establishment, it has a job in sustaining steadiness within the system, and strengthening monetary establishments and vital market infrastructure.

India’s largest insurance coverage firm, Life Insurance Corporation, isn’t solely making ready for an IPO, it’s additionally clinically severing ties with its subsidiaries, among the many most distinguished being Stock Holding Corporation of India Ltd (SHCIL). SHCIL has been the only custodian for LIC, however now the insurance coverage behemoth has determined to search for a brand new custodian for its large portfolio of inventory and bonds.In late March, LIC floated a young for a brand new custodian.

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