LIC to Enter into Banking

[Jithin91]

LIC - Life Insurance Cooperation, to Enter into Banking, by Acquiring Majority Stakes in IDBI Bank

LIC will acquire up to 51 per cent stake in state-owned IDBI Bank after regulator Irdai approved the plan that will help convert the debt-ridden lender into a private sector entity. If the deal goes through, the IDBI Bank would get a capital support of Rs 10,000-Rs 13,000 crore. For LIC it will get about 2,000 branches through which it can sell its products while the bank would get massive funds of LIC. The bank would also get accounts of about 22 crore policy holders and subsequent flow of fund into their account.

LIC set to get into banking as Irdai lets it snap up IDBI Bank

 

[piinku1]

Another scapegoat for Modi.
LIC will turn bankrupt one day.

 

[amansingh]

Pity on idbi employees

 

[Bapun]

LIC board approves acquisition of up to 51% stake in IDBI Bank

 

[hike]

Pity on idbi employees

Why bro it's an govt. bank and I don't think it's going to be bad for IDBI Employee. Same branches, same employee, only new is LIC.

 

[amansingh]

Why bro it's an govt. bank and I don't think it's going to be bad for IDBI Employee. Same branches, same employee, only new is LIC.

Firstly it is the misuse of money of people who had invested in lic. As this is a bad bank. Then for employees they have to focus more on crossselling of lic products than genereal banking

 

[hike]

Then for employees they have to focus more on crossselling of lic products than genereal banking

How you are so sure about this?

Firstly it is the misuse of money of people who had invested in lic.

Many banks have their own life insurance scheme like BOB, SBI, etc. what's wrong in that.

 

[amansingh]

How you are so sure about this?

Many banks have their own life insurance scheme like BOB, SBI, etc. what's wrong in that.

its wrong beacause employees are there for banking. they dont want to do marketing. otherwise they wud have choosen lic or othr marketing job.

 

[hike]

its wrong beacause employees are there for banking. they dont want to do marketing. otherwise they wud have choosen lic or othr marketing job.

Who ask you that these employee will do marketing stuff?
If bank have their own Life Insurance then remember they have separate employee for that.

 

[amansingh]

Who ask you that these employee will do marketing stuff?
If bank have their own Life Insurance then remember they have separate employee for that.

Sorry bro that's not true. U can ask any banker, now they are given targets of insurance policies. But gradually these targets will increase