Stalin criticises Centre’s move to ‘privatise’ LIC

Chief Minister MK Stalin, on Monday, criticised the Centre for trying to privatise the Life Insurance Corporation (LIC) of India. “The Centre’s act of filing Draft Red Herring Prospectus (DRHP) with SEBI to sell 5 per cent of its stakes is undoubtedly a move towards privatisation and quite undesirable. This is neither in the interests of our people nor the organisation,” tweeted Stalin. He also said LIC over the years has catered to the needs of crores of Indias, and has provided social security and the Centre should not kill such institutions.