Finance Minister sought opinions from several sectors. While asking about Banks, Vice Chairman of Kotak Mahindra Bank adviced Government to sell LIC into shares to mobilise funds.
How will a man react, if he is sane and capable of thinking logically?
"I asked about banks, not about insurance industry or Government's needs of funds" might be the right answer.
"You take care of your institution - Kotak Mahindra Bank, we can very well take care of the Government" would have been the reply, if the FM had some self respect.
"First you administer properly your insurance arm - Kotak Mahindra Old Mutual Life Insurance Co. When you become better than LIC, come and advice us", would have been the apt reply, if he had some conscious.
But, he had sought opinion from LIC whether it can be listed.
What does it mean?
Allahabad High Court ordered IRDA to scrutinise all policies of SBI Life and if required wind up the company.
If LIC chairman or somebody else asks the Government to wind up SBI Life, will the Government write to SBI Life?
But, the Government is seriously seeking opinion from LIC, whether it can be listed.
That means...
It is the intention of the Government to privatise LIC. They knew how will LICians react. So, they are creating an illusion, as if, somebody is suggesting something and they are considering.
LIC Chairman aptly replied.
We also need to reply in the form of movements involving general public, against the Government, when it tries to proceed.
Be prepared...
How will a man react, if he is sane and capable of thinking logically?
"I asked about banks, not about insurance industry or Government's needs of funds" might be the right answer.
"You take care of your institution - Kotak Mahindra Bank, we can very well take care of the Government" would have been the reply, if the FM had some self respect.
"First you administer properly your insurance arm - Kotak Mahindra Old Mutual Life Insurance Co. When you become better than LIC, come and advice us", would have been the apt reply, if he had some conscious.
But, he had sought opinion from LIC whether it can be listed.
What does it mean?
Allahabad High Court ordered IRDA to scrutinise all policies of SBI Life and if required wind up the company.
If LIC chairman or somebody else asks the Government to wind up SBI Life, will the Government write to SBI Life?
But, the Government is seriously seeking opinion from LIC, whether it can be listed.
That means...
It is the intention of the Government to privatise LIC. They knew how will LICians react. So, they are creating an illusion, as if, somebody is suggesting something and they are considering.
LIC Chairman aptly replied.
We also need to reply in the form of movements involving general public, against the Government, when it tries to proceed.
Be prepared...
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LIC Chairman replies to Finance Minister
Source: Indian Express
State-run Life Insurance Corporation (LIC) is against diluting its present character and listing the entity on the stock exchanges and has