LIC transfers ₹7,324.34 crore dividend to Government of India:

The Life Insurance Corporation of India (LIC) handed over a dividend of ₹7,324.34 crore to the central government. The cheque was presented by LIC’s CEO and MD, R. Doraiswamy, to Union Finance Minister Nirmala Sitharaman in New Delhi. The dividend, approved at LIC’s Annual General Meeting on August 26, reflects the government’s share as the majority shareholder. Department of Financial Services Secretary Nagaraju M was also present at the event.