New Delhi: The Life Insurance Corporation of India (LIC) has said that the report published by The Washington Post about its big investment plan in the Adani Group is completely false and baseless. The foreign newspaper had claimed that LIC was planning to invest around 3.9 billion US dollars, which is about ₹33,000 crore, in Adani Group’s companies through bonds and shares. But LIC has strongly denied this report and said that there is no truth in it.
LIC’s Statement:
In its statement, LIC said that it has not prepared or approved any such plan for investing in the Adani Group. The corporation explained that all its investment decisions are made independently and according to its own internal policies. It also mentioned that no outside department or government ministry tells it where to invest.
LIC further said that it always takes full care of the money of its policyholders and invests only after checking all the risks carefully. The company also said that false and misleading news like this can harm its reputation and confuse people.
LIC made it clear that its current investment in Adani Group companies is less than two percent of its total assets, which proves that there is no large-scale investment as the report claimed. The corporation ended its statement by saying that it will continue to work with full transparency and honesty to protect the trust of its policyholders.
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