ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Business LICs Retreat

CRITICISM of its investment policy and constant questioning of its invest-ment decisions have evidently made LIC want to retire into its shell. True, the Dutt Committee misinterpreted the commitment, mad" at the time of na-tionalisation of life insurance by the then Finance Minister, C D Deshmukh, to maintain the private sector's share in LIC's investments; it also did not ap-preciate the logic of investment of life funds to maximise returns consistent with safety. It thus accused LIC of having equated investment in private com-panies with investment in the, larger business houses. Parliament too has re-cently questioned LIC's proneness to finance large business houses

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