Is LIC being pushed to the brink? NPAs double to Rs 30,000 crore in 5 years

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sinking ship…stay away from LIC..

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what about IDBI Bank since LIC has stake in it rolleyes

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desiman wrote:

what about IDBI Bank since LIC has stake in it rolleyes

LIC bailed out IDBI..becoz of its higher NPA becoz of government….now in return they are facing repercussion

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This is what happens & what will continue to happen as long as govt runs/control companies instead of focusing on its core job of governance.It is better to run 3 1st class agencies like TRAI,SEBI,IRADA than running 30 2nd & 3rd class banks & insurance companies.

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guest_999 wrote:

This is what happens & what will continue to happen as long as govt runs/control companies instead of focusing on its core job of governance.It is better to run 3 1st class agencies like TRAI,SEBI,IRADA than running 30 2nd & 3rd class banks & insurance companies.

Can same logic be applied for 2nd class railway journey. Should they be stopped.

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int86 wrote:

Can same logic be applied for 2nd class railway journey. Should they be stopped.

Not stopped but railways can certainly be privatized & let competition takes its natural course supervised by a 1st class regulatory authority.If Indian govt kept phone market closed then there wouldn’t even be an issue/discussion of price hikes etc because there wouldn’t be many people using mobile phone in the first place.

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People easily say LIC can privatized and what not. But just go to any town and village, majority of them fear private bank FDs, then how would they even think of private insurance. LIC is a behemoth, instilled saving culture in India with endowment plans. Only solution for now is govt should keep away from LIC, SBI and other govt banks, give them more autonomy and improve risk management in banks. Then then can sell banks slowly, keeping one or two for socialist works. There’s a talk that govt is pushing for yet another interim dividend from RBI, unless they spur consumer spending and confidence, it’s difficult to bounce back.

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neo13 wrote:

People easily say LIC can privatized and what not. But just go to any town and village, majority of them fear private bank FDs, then how would they even think of private insurance. LIC is a behemoth, instilled saving culture in India with endowment plans. Only solution for now is govt should keep away from LIC, SBI and other govt banks, give them more autonomy and improve risk management in banks. Then then can sell banks slowly, keeping one or two for socialist works. There’s a talk that govt is pushing for yet another interim dividend from RBI, unless they spur consumer spending and confidence, it’s difficult to bounce back.

People also feared computers will take away all the jobs when they were first introduced in India by Rajiv Gandhi in 1980s leading to public protests by opposition parties.It sounds ridiculous today but not at that time. Similarly 50 years from now this idea of behemoth PSUs will sound ridiculous too.

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guest_999 wrote:

People also feared computers will take away all the jobs when they were first introduced in India by Rajiv Gandhi in 1980s leading to public protests by opposition parties.It sounds ridiculous today but not at that time. Similarly 50 years from now this idea of behemoth PSUs will sound ridiculous too.

Exactly it takes time. I thought the times would change quickly. But those who went to school with me are not even interested in bank FDs due to PMC issue, let alone mutual funds or stock market. They are more inclined to LIC policies. Whereas those who went to college with me are learning about mutual funds and realizing insurance is not investment, which their parents believed.

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guest_999 wrote:

Not stopped but railways can certainly be privatized & let competition takes its natural course supervised by a 1st class regulatory authority.If Indian govt kept phone market closed then there wouldn’t even be an issue/discussion of price hikes etc because there wouldn’t be many people using mobile phone in the first place.

Yes, agree, everything should take natural course, not the backdoor way. It’s railways investment, hired by private players. If they make lose, they will walk away as they have Nil investment.

We have example from our current times, BSNL. . Still no private players provide services where BSNL has reach.

No backdoor. An honest approach and survival of the fittest

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singh.sourabh1234 wrote:

Who’s fault is this?

Since it is a democracy(& not like Pakistan democracy where army always has the remote control) so fault is of public for selecting wrong govt/politicians.

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Dimer8853 wrote:

Modi

Bhai Har chiz me Modi fakir kaise Zimmedar ho sakta..wo to jhola uthake kahi bhi chal deta hai

Missing