LIC lost money in 18 out of 21 state-owned banks in 2.5 yrs
State-run insurer LIC has lost money in 18 out of 21 public sector bank investments in the last 2.5 years, as per a report. However, the value of LIC's investments in private sector banks has gone up by 50% during the period. Notably, India's insurance regulator has permitted LIC to increase its stake in loss-making IDBI Bank to 51%.