The Life Insurance Corporation of India (LIC) said it would continue to deploy funds to the best advantage of the policyholders as well as the community as a whole ‘true to the spirit of nationalisation.’“National priorities and obligation of reasonable returns to the policyholders are the main criteria of our investments,” said LIC.The total funds, so invested for the benefit of the community at large, are ₹30,69,942 crore as on March 31, LIC said on the eve of its foundation day. It said it had immensely contributed to propagating the message of life insurance in the country and in the last 64 years, it had spread its wings from being a life insurance company into an internationally-recognised financial conglomerate with presence in 14 countries. Starting with an initial capital of ₹5 crore in 1956, LIC’s asset base had gone up to ₹31,96,215 crore with a Life Fund to the tune of ₹31,14,496 crore, according to the insurer.
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