“We have invested almost Rs 8,000 crore in IPOs of GIC Re and New India Assurance (NIA) and hold now almost hold 8 per cent of stakes in each of these insurers. We didn’t invest in these companies to sell them in three months.These are some of the best public sector companies,even much better than the public sector banks, in the country,” said LIC Chairman.

The order pertained to compensation to the kin of 54 pilgrims from Kurukshetra who lost their lives in an accident in Nepal on June 18, 1995. The driver of the bus had lost control and the vehicle had fallen into Nepal’s Trishuli Nadi. 

“We have received a memorandum from the state government requesting to declare Cyclone Ockhi as a national calamity. But, there is no such scheme for the Centre to do the same,”