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The Public Sector insurance firm LIC paving ways to invest in Railway projects, where the major can benefit out of the deal. According to sources, the Life Insurance Corporation committed to invest 1.5 lakh crore. The time period of investment is agreed to five years.
According to the FM Arun Jaitley, LIC committed to support Indian railways for five years worth of 1.5 lakh crore. The investment would be done in bonds issued by various railway entities such Indian Railways Finance Corporation (IRFC), beginning next fiscal.
The average investment will fall around 30,000 crore. However, the interest that LIC will get on investment is yet to be finalized.
-Kannamsai
