The Cabinet Committee on Economic Affairs has given approval for the sale of a part of shares of LIC and for its listing on the stock market. The quantity of shares to be sold and its price will be decided by a group of ministers. The LIC Act of 1956 has already been amended so that the shares of LIC can be sold. The sale of shares is likely to take place during the Jan-Mar 2022 quarter. This is the first step towards privatisation of LIC.
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