LIC Marathi News: Category Lic ( Indian Life Insurance Corporation of India ) Now working with big international banks so that their money can be managed safely and cleverly. Recently, LIC has signed a contract to invest about $ 1 billion (ie, about ie, 8,300 million) with JP Morgan and the Bank of America. These agreements have been signed by ‘Bond Forward Rate Agreement’, the purpose of which LIC is to reduce the future financial risk of the LIC.
In early November, the LIC said it was starting to use new financial tools like bond derivatives. Initially, the company has done small transactions, but now it is moving forward in this market.
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Of all such transactions in India since May, 5% of the transactions are only by LIC. This means that now LIC is now managing its funds using commercial and international methods, so that in the future, customer money will be protected.
How will this deal benefit LIC?
The transactions that the LIC have participated are called FRA (forward rate agrement). In this case, the company and the bank decide that in the future, bonds (government loan documents) will be purchased and sold at a fixed interest rate. It benefits LIC because in the future, interest rates will not affect their income.
These transactions of LIC have increased the demand for long -term bonds in the market. These bonds were the highest bid in the last two government auction. This shows how the decisions of large organizations like LIC can affect the entire market.
Why LIC is doing this agreement
The LIC has assets worth $ 630 billion (about £ 54 lakh crore). Now more and more people in India are getting insurance and investing, so LIC will also have to invest their money safely and cleverly. That is why they are contracting so that they can be protected from any financial upliftment in the future.
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