LIC investment cap raised to save PSU selloffs

In a last-ditch attempt to mop up resources through disinvestment, the finance ministry has upped the limit for the state-run Life Insurance Corporation (LIC) to buy equity stakes in companies up to 30%. Financial services secretary DK Mittal said on Wednesday a notification was being issued to allow LIC to hold up to 30% in listed/unlisted companies against the current cap of 10%.

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