LIC IPO will hand over control of vast pool of household savings to private Indian and foreign investors

Statement on LIC IPO by Peoples Commission on Public Sector and Public Services

21 January, 2022

The Commission feels that listing of the LIC and its disinvestment will radically alter LIC’s role as a social security provider for the disadvantaged sections, dilute the pivotal role that millions of its small policy holders play, in favour of affluent profit-seeking investors. Indirectly, it implies a thoughtless handing over of control of the vast pool of household savings to private, including foreign, investors.

 

upload.Statement on LIC by Peoples Commission - Jan 21, 2022

 

 

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Laxmi
Laxmi
3 months ago

The disinvestment brings up questions like since not many people access the share market in our country, how many people are going to benefit from this? LIC provides social security to all sections of society, to poor people with their small policies, will it continue to do so? Or will it focus on the shareholder’s profit? And more importantly why people are never asked while making such decisions which have a huge impact on their lives?

Vipin
Vipin
3 months ago

Very informative PDF file given here. LIC as an organisation has served people of India for so long and proven to be successful for the purpose it was brought in. Disinvestment of it will give the power of funds own by it into a private hands.
I oppose it and we all should unite to fight against this provatisation.