The Life Insurance Corporation of India‘s (LIC) debt exposure to the Adani Group has come down, the government informed the Lok Sabha on Monday. Further, she said the five public sector general insurance companies have informed that they do not have loan/credit exposure to the Adani Group. Also read: LIC’s investment in Adani Group erodes, close to cost nowEarlier on January 31, LIC had said its total holding in the Group under equity and debt is ₹35,917.31 crore, as on December 31, 2022. As a percentage of the total assets under management of ₹41.66-lakh crore, LIC’s exposure in the Adani Group is 0.975 per cent at book value. “As regards case pertaining to imports of Indonesian coal by the Adani Group, investigation by DRI has not reached finality,” he said.

Source: The Hindu March 14, 2023 08:03 UTC