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It ain’t your money to spend

LICense to spend: A look inside the government’s cookie jar

LIC’s acquisition of a 51% stake in IDBI may have grabbed headlines, but it’s only the latest in a worrying trend of LIC investing poorly and bailing out ailing government assets

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In the opening chapters of The Great Gatsby, F. Scott Fitzgerald describes a party thrown by Jay Gatsby where the who’s who of New York were invited. No one really knew who Gatsby was, yet everyone came to the party. The Life Insurance Corporation of India (LIC)—the government-owned insurer that towers over the Indian insurance…

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