LIC's exposure to Adani much less than to other groups, say officials

NEW DELHI: The department of financial services (DFS) in the finance ministry and govt's policy think tank Niti Aayog have no role in the investment decisions of LIC, and the investment guidelines of the state-owned company are governed by board-approved policies, officials said on Saturday, adding that the insurer's exposure to the Adani Group is far less than to other conglomerates. LIC's investment in the Tata Group is estimated at Rs 1.3 lakh crore, while the exposure to the Aditya Birla Group is Rs 42,600 crore. On equity side, LIC owns 4% of Adani stocks (Rs 60,000 crore), compared with 6.9% (Rs 1.3 lakh crore) in Reliance, 15.9% (Rs 82,800 crore) in ITC, 4.9% (Rs 64,725 crore) in HDFC Bank & 9.6% (Rs 79,361 crore) in SBI, officials emphasised. Speaking on condition of anonymit