Parliamentary panel wants IRDA to probe LIC role in ONGC disinvestment

A Parliamentary Panel has urged the insurance regulator to enquire into Life Insurance Corporation’s recent share purchase in ONGC’s offer-for-sale. The Insurance Regulatory and Development Authority (IRDA) should investigate whether LIC has violated any prudent investment norms and exceeded the limit stipulated by them, the Standing Committee on Finance, said in a report tabled in the Lok Sabha on Tuesday.


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