LIC’s exposure to default debt instruments tops Rs 20,000 crore


(LIC) has an exposure of more than Rs 20,000 crore to various entities’ debt instruments that have been downgraded to the default category by credit rating agencies.


The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.



According to LIC’s public disclosure, its Rs 6,120-crore exposure to the insolvent mortgage lender Dewan Housing has been downgraded to default.


Similarly, its Rs 7,949.98-crore exposure to various Anil Ambani-owned companies such as Reliance Capital, Reliance Communications and Reliance Home have been downgraded to default category till the September quarter.


Entities that have seen rating downgrade include Essar Power, Amtek Auto, Sterling Biotech, Deccan Chronicle Holdings, Infrastructure Leasing and Financial Services and


LIC’s life fund’s exposure to these default-rated debt instruments is to the tune of Rs 12,187.57 crore, while the pension fund’s exposure to such instruments is Rs 7,741.58 crore. Similarly, the unit-linked fund’s exposure at the end of September 2019 period is Rs 430.08 crore.

chart






Source link

Free Course

"Double Your Traffic in 30 days" + Secret Bonus

valued at $299

This amazing course will teach you, step by step, how to double if not triple your traffic over the next 30 days.

100% Privacy. We will never spam you!

Comments