Indians are praising Life Insurance Nationalization Day by moving the hashtag - #LICtheGREAT - on Twitter. For the unversed, the Indian government, on January 19, 1956, had nationalized the country's extra security area, a move that in this manner prompted the introduction of the Life Insurance Corporation (LIC) of India, on September 1, 1956.
The progression to nationalize the extra security area was taken by then Union Finance Minister, CD Deshmukh. 66 days years down the set of experiences path, the country's biggest extra security organization is good to go to send off its initial public contribution (IPO).
On the Life Insurance Nationalization Day, #LICtheGREAT has been moving on Twitter, in what could be a positive sign in front of the biggest IPO the nation has at any point seen. Su Venkatesan, Member of Parliament from Madurai, said on Twitter, "Jan 19 - 1956 Life Insurance Nationalization day. The day Banyan seeds were planted 66 years prior. Become exceptionally large with numerous Column roots bearing the incredible country. #LICtheGREAT"
10 lesser-known realities about LIC:
• LIC was set up after the public authority consolidated 245 guarantors, including 154 life coverage organizations, 16 unfamiliar organizations, and 75 opportune organizations.
• The public authority had set up LIC as a legal partnership under the LIC Act, 1956.
• In 1959, LIC's Chennai building was initiated. The pinnacle was the tallest structure in India around then.
• LIC partook in the nationalization of backup plans for a long time. The Centra government at long last permitted private life coverage organizations to work in India in 2000.
• The Central government claims a 100 percent stake in LIC.
• LIC is the biggest institutional financial backer in the Indian offer market.
• In the monetary year 2021, LIC's deal grew 299%, as the guarantor sold 2.1 crore arrangements till March 2021.
• LIC IPO is relied upon to open for membership by March 2022 end.
• LIC's trademark yogakshemam vahamyaham signifies, "Your government assistance is our obligation"
• The principal lady Managing Director of LIC, Usha Sangwan, was named in 2013.
Image Credit: The Financial Express