State-owned Life Insurance Corporation (LIC) of India has once again demonstrated its financial strength by handing over a dividend cheque of Rs 3,662.17 crore to Finance Minister Nirmala Sitharaman. The cheque was presented by Siddhartha Mohanty,
Chief Executive Officer & Managing Director of LIC, in the presence of M P Tangirala, Additional Secretary, Ministry of Finance.
This substantial dividend payment adds to LIC's impressive track record. Earlier, the corporation paid an interim dividend of **Rs 2,441.45 crore on March 1, 2024. In total, LIC has paid Rs 6,103.62 crore as dividends to the Centre for the financial year 2023-24.
LIC, which recently completed 68 years since its incorporation, boasts an asset base of over Rs 52.85 lakh crore. Its consistent performance and commitment to financial stability continue to make it a cornerstone of India's insurance sector.
Whether as a reliable investment avenue or a safety net for millions of policyholders, LIC remains a vital institution in the country's financial landscape.
*Note: LIC stands as a testament to prudent financial management and its role in supporting the Indian economy.