Life Insurance Corporation of India (LIC) has its largest investments in the Tata Group at ₹88,404 crore, followed by ₹80,843 crore in HDFC Bank and ₹60,065.56 crore in the Reliance Group, Parliament was informed on Tuesday. The Adani Group received ₹47,633.78 crore, while SBI attracted ₹46,621.76 crore from LIC, according to Minister of State for Finance Pankaj Chaudhary in a written reply to the Rajya Sabha.
LIC has invested over ₹5,000 crore each in 35 domestic companies and groups, totaling ₹7.87 lakh crore. Among them, L&T, Unilever, IDBI Bank, M&M, and Aditya Birla together account for ₹3.23 lakh crore of LIC’s exposure.
Chaudhary noted that LIC follows a board-approved investment policy that provides the framework for all investments. Decisions are made by the Investment Committee, a board sub-committee including the CEO & MD, other MDs, and independent directors. All investment activities follow a Standard Operating Procedure (SOP), reviewed annually to ensure compliance with regulatory requirements. LIC’s investments are subject to strict due diligence, risk assessment, and fiduciary compliance under the Insurance Act, 1938, and regulations from IRDAI, RBI, and SEBI.
As of September 2025, LIC’s exposure across seven sectors—including cement, FMCG, ports & logistics, and news & broadcasting—stood at ₹2,27,327.84 crore.
On farm debt, Chaudhary said there is no proposal for a waiver under government consideration.
Regarding the Indian Rupee (INR), its value is influenced by factors like the Dollar Index, capital flows, interest rates, crude prices, and the current account deficit. During 2025-26, depreciation has been affected by a rising trade deficit and developments in India-US trade agreements, alongside limited capital account support. While depreciation can improve export competitiveness, it may also increase import costs. The effect on domestic prices depends on the pass-through of international commodity prices and other factors, such as supply-demand dynamics, freight costs, and availability of substitutes. The INR’s value is market-determined, with no set target or band.
