MUMBAI: State-run Life Insurance Corporation
of India (LIC) has bought debt worth about Rs 4,300 crore in state bond
auctions conducted by the Reserve Bank of India (RBI), starting the
fiscal with its first big-ticket investment after clocking nearly 10 per
cent growth in premium collection last year.
The
country's biggest insurer bought about four-fifths of the total
notified amount in the auction conducted on Wednesday. State development
loans (SDL) are the bonds issued by different state governments and
sold through a process of RBI auction.
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