Lic, Sbi, And Rcom: Updates On Finance And Insolvency

LIC’s Bima Sakhi Opportunities

LIC offers chances to Bima Sakhis, in promotion of their job using several performance-based rewards. Graduate Bima Sakhis, after completion of 5 years, may participate in the recruitment procedure for the post of Apprentice Development police officers of LIC, upon meeting the qualification standards, he said.

The entities were identified as fraudulence on June 13, 2025 based on the RBI’s Master Directions on Fraudulence Danger Administration and Financial institution’s Board-approved Policy on Category, Coverage & Administration of Frauds, Minister of State for Finance Pankaj Chaudhary claimed in a written reply in the Lok Sabha.

SBI Classifies RCom as Fraudulent

State Bank of India has classified Reliance Communications and Anil D Ambani as illegal. SBI’s credit score exposure to RCom is substantial. The government is also sustaining farmers through credit rating and insurance coverage schemes.

Government Support for Farmers

He claimed, the Union Government has actually taken several actions to give alleviation and to boost the financial problems of farmers which includes timely and ample credit via Kisan Debt Card (KCC) under which plant funding of up to Rs 3 lakh is offered at subsidized passion prices under the Modified Rate Of Interest Subvention System (MISS).

The credit report direct exposure of SBI in RCom consists of, fund-based principal superior quantity of Rs 2,227.64 crore in addition to the accrued rate of interest and costs with effect from August 26, 2016 and non-fund based Financial institution Guarantee of Rs 786.52 crore, he claimed.

RCom’s Insolvency Resolution

RCom is going through Company Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016. The resolution plan was accepted by the Committee of Creditors and filed with the National Business Regulation Tribunal (NCLT), Mumbai on March 6, 2020, and NCLT approval is awaited.

The stipend system is in addition to their payment pay-outs and goes through specific performance specifications, he said, adding, the quantity of the gratuity ranges from Rs 7,000 monthly in the very first year to Rs 5,000 in the third year. PTI

State Financial Institution of India has actually classified Reliance Communications and Anil D Ambani as illegal. The financial institution is preparing to submit a grievance with the CBI. This activity complies with RBI standards. SBI’s credit rating direct exposure to RCom is substantial. RCom is presently going through insolvency process. A resolution plan waits for NCLT authorization. The government is also sustaining farmers through credit scores and insurance coverage schemes.