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LIC dumps subsidiary SHCIL: how it will dampen competition and weaken market infrastructure
Life Insurance Corporation of India s (LIC) building at Parliament Street in New Delhi on February 4, 2021.
Synopsis
In the interest of the ecosystem, LIC needs to consider the long-term impact of its decision, which will result in unnecessary consolidation of revenues and reduce competitiveness. As the country s largest financial institution, it has a role in maintaining balance in the system, and strengthening financial institutions and critical market infrastructure.
India’s largest insurance company, Life Insurance Corporation, is not only preparing for an IPO, it’s also clinically severing ties with its subsidiaries, among the most prominent being Stock Holding Corporation of India Ltd (SHCIL). SHCIL has been the sole custodian for LIC, but now the insurance behemoth has decided to look for a new custodian for its massive portfolio of stock and bonds.In late March, L
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