New Delhi: Union Finance Minister Nirmala Sitharaman presented the first digital budget of the decade 2021-22 on Monday. In this, Finance Minister Sitharaman has announced to sell stake in LIC. The government will bring an IPO in it. While presenting the budget, Nirmala Sitharaman announced that two more banks will be privatized. However, it has not been clear which bank will be privatized.
The government is also going to sell to an insurance company. LIC will also sell its stake. The central government is going to bring Initial Public Offering (IPO) in LIC. The government will sell its stake in October. The reach of LIC is continuously increasing. People get their policy done without fear. Now the government is going to sell stake in it, will it affect its consumers. According to experts, this will not affect policyholders.
LIC will be listed in the stock market after the IPO. After this, it will also depend on the market trend. Anyone can buy shares in it. After this, consumers will also be aware of how much money LIC is investing in the stock market. The government has announced to sell its stake in these companies. While two banks will be privatized.
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