#lic

Times of India | CBI searches at 17 sites in cases linked to ADAG AI generated summary, Read the full article for complete information. The Central Bureau of Investigation (CBI) carried out coordinated searches at 17 locations in Mumbai on May 10, 2026, targeting the residential premises of directors and offices of intermediary firms linked to Reliance ADA Group companies – Reliance Telecom Ltd., Reliance Commercial Finance Ltd. and Reliance Home Finance Ltd. – following warrants issued by a Mumbai special CBI court. Investigators seized incriminating documents, uncovered that several intermediary firms operated from the same address, and have so far registered seven cases involving alleged bank‑fund diversion and fraud amounting to a total loss of roughly Rs 27,337 crore. Two senior Reliance Communications executives were previously arrested, and the probe is under Supreme Court monitoring. Read more: https://timesofindia.indiatimes.com/india/cbi-searches-at-17-sites-in-cases-linked-to-adag/articleshow/130984894.cms #CBI #RelianceADA #AnilAmbani #SupremeCourt #LIC #DVishwanath #AnilKalya

Times of India | 100% FDI allowed in insurance sector under automatic route, inflows for LIC capped at 20% AI generated summary, Read the full article for complete information. The Indian government announced that foreign direct investment (FDI) in insurance companies can now be up to 100 % of paid‑up equity under the automatic route, subject to approval by the Insurance Regulatory and Development Authority of India (IRDAI). This change, aligned with the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, lifts the previous ceiling of 74 % and follows parliamentary approval of the Sabka Bima Sabki Raksha Bill. While all insurers may receive full foreign ownership, Life Insurance Corporation of India (LIC) remains restricted to a maximum of 20 % foreign investment. The new rules also extend the 100 % FDI limit to insurance intermediaries, and require key top‑level positions (chairperson, managing director or CEO) to be held by resident Indian citizens, with any ownership changes complying with RBI pricing rules under FEMA. Read more: https://timesofindia.indiatimes.com/business/india-business/100-fdi-allowed-in-insurance-sector-under-automatic-route-inflows-for-lic-capped-at-20/articleshow/130716877.cms #IRDAI #LIC #DPIIT #ReserveBank #SabkaBima #Indiangovernment #Parliament #