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The industry also urged the government to reconsider the decision to levy a tax of 30% on current market value when crypto assets are gifted or given to employees as part of their remuneration, saying the tax is levied without waiting for the receiver to sell it and book any profit.

Ruchi Soya said it has strongly positioned itself with diversified portfolio of products to capitalize on the trend of shift in consumer preferences towards trusted and branded packaged foods amid the Covid-19 pandemic.

LIC’s embedded value (EV) jumped to nearly Rs 5.4 lakh crore in September 2021. This was more than five times higher from the Rs 95,605-crore EV clocked six months earlier in March. EV is a measure of an insurer’s current net worth and present value of future profits.

In a quiet move, the RBI has managed to reduce the relevance of the reverse repo rate. Reverse repo is the rate at which the RBI borrows from banks and sets the floor for money markets.

From October 1, 2021, banks are required to reach out to customers before deducting money towards payments based on standing debit instructions.

LIC infused Rs 4,743 crore into IDBI Bank using policyholders’ funds. IDBI Bank raised Rs 14,351.80 million on December 19, 2020 by way of a qualified institutional placement and since March 10, 2021, the bank has come out of the prompt corrective action framework, subject to compliance with certain conditions and continuous monitoring.

Overall, LIC held a total of Rs 9,78,493.81 crore worth equity investments as of September 30, representing 24.78 per cent of the total Rs 39,49,516.37 crore worth of investments.

The government is yet to clarify how much money it wishes to earn from selling shares in the insurers. Though it will be selling 31,62,49,885 shares of the company, the DRHP notes. LIC has a majority share of the life insurance market in India. The government expects the proceeds will help it bridge a deficit gap this fiscal year.

IPO documents filed with the regulator indicate the insurance behemoth may be valued in the excess of Rs 12.5 lakh crore, making it more valuable than all other listed government-owned companies.

According to figures from the forensic audit that were included in the CBI complaint, the company owed Rs 70.89 billion to ICICI Bank, Rs 36.34 billion to IDBI Bank, Rs 29.25 billion to the State Bank of India , Rs 16.14 billion to Bank of Baroda, Rs 12.44 bilion to Punjab National Bank and Rs 12.28 billion to Indian Overseas Bank.