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  • Business Today

    LIC’s Bank

    Nov 14, 2019 4 minutes
    By ANAND ADHIKARI
    ILLUSTRATION BY RAJ VERMA

    IF INVESTING IS entertaining, if you are having fun, you are probably not making money. Good investment is boring,” said the legendary investor George Soros. The 51 per cent investment by Life Insurance Corporation (LIC) in the struggling IDBI Bank hardly fits into Soros’ “boring” category. It is, in fact, risky – imagine the future of a bank with one-fourth lending book in the non-performing asset category, mounting losses and lending restrictions on account of the “weak bank” tag given by the Reserve Bank of India (RBI).

    Whichever way you look at it, the entry of LIC in the state-owned bank has given hope

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