Life Insurance Corporation of India (LIC) has transferred ₹12,207 crore in dividends to the government, following the approval of a ₹10 per share payout at its recent annual general meeting.
The payment highlights the insurer's continued role as a significant contributor to state revenues, even as it navigates a competitive market landscape.
The dividend cheque was presented by LIC CEO and Managing Director R Doraiswamy to Finance Minister Nirmala Sitharaman.
The ceremony was attended by senior officials, including LIC Managing Directors Ratnakar Patnaik and R Chander, alongside Sanjay Lohiya, Secretary of the Department of Financial Services.
This payout aligns with a broader trend of Indian public sector entities returning capital to the state.
Recent reports indicate that other state-run bodies, such as the Karnataka State Industrial and Infrastructure Development Corporation (KSIIDC), have also transferred substantial dividends to their respective governments, underscoring sustained financial performance across the public sector.