Mumbai:
Life insurance coverage big LIC has requested the Reserve Financial institution to introduce long-term authorities bonds, together with 100-year paper as effectively, a high official mentioned on Tuesday.
Siddhartha Mohanty, Managing Director and Chief Government of LIC, mentioned the insurer sells complete life insurance policies, which want investments in long-term bonds.
The RBI has been giving permission to 20-30 years bonds, and has additionally given a go-ahead for a 40-year bond, he added.
“I’m additionally anticipating 50-year, even 100-year bonds. Our individuals are discussing this once in a while with RBI, and they’re additionally contemplating this,” Mohanty instructed reporters on the sidelines of the GCA25 right here.
Additional, he identified that whereas many international locations problem 100-year bonds within the world market, India has but to introduce such bonds resulting from restricted demand and low exercise within the secondary market.
Mohanty mentioned LIC has been very energetic within the G-sec (Government Safety) investments, and added that the insurer has been subscribing to over a fifth of the issuances.
(Apart from the headline, this story has not been edited by NDTV workers and is revealed from a syndicated feed.)
Source link
#LIC #Requests #RBI #Introduce #100Year #Government #Bonds
