LIC pays dividend Cheque of Rs 2,441 crore to FinMin

The insurance sector PSU has provided a good amount of financial assistance to the government, with around Rs 2,441 crore in dividend payments. The cheque was handed over to the Finance Minister Nirmala Sitharaman.

LIC has bolstered the nation’s fiscal health while marking the pivotal role that the moment that underscores the insurance giant’s role in supporting the capital functionaries. Concurrently, the finance minister has recently inaugurated LIC’s new International Business Centre at GIFT City, Gandhinagar.

This move is recommended to extend its services on a global scale to position India as a hub for international financial services.

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The significant dividend payment provided by the insurance giant is a remarkable achievement to strengthen the financial outcome of the government as well as to prepare a corrigendum to ease the economic hindrances. The insurance company has been creating huge potential in the Indian Economic landscape while turning out to be the largest profit gainer in the stock market exchange.

The establishment of the International Business Centre is looking forward to the instance of a growing frame of PSU structure in gaining global outreach and potential domain. The share prices and demand for customization have been improving day by day. This could enhance the resilient economic infrastructure of the country.

 

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Meanwhile, the transaction was witnessed by Financial Services Secretary Vivek Joshi, which underscores LIC’s financial role and its commitment to contribute to the nation’s fiscal health.

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