Post-investigation by the CBI into its investment and housing arm activities, Life Insurance Corporation of India chairman T S Vijayan said that the internal probe was not found anything wrong. LIC had earlier formed a high-powered committee comprising three ED-level officers to look into the matter, in the wake of the arrest of its officials by the CBI and suggest measures to improve its operation in these areas.
?We have not found anything wrong so far,? Vijayan said. While he refused to comment on whether the high-level committee has already submitted its reports.
Talking to reporters the LIC chief said the corporation is targeting over Rs 2 lakh crore premium in the current fiscal as there is no impact of the alleged bribe for loan scam in its housing subsidiary.
Commenting on the market volatility, he said, ?Our investments are not dictated by ups and downs of the market. Short-time market conditions do not affect us.?
On offloading LIC’s stake in Corporation Bank, he said, ?We have equity in many banks and those are our financial investments. It is dependent on the dividends or how the company is performing.?
The LIC chairman was in Jangipur to launch LIC-Aadhar UID cards in presence of Union finance minister Pranab Mukherjee. LIC has set a target of enrolling 30,000 people in Murshidabad district of West Bengal under its LIC-Aadhar UID project, where it will issue cards to those registered. It has also set a target of enrolling 3.5 crore people across six states in next one year.