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Insurance behemoth Life Insurance Corporation (LIC) has stepped up the purchase of equities at a time when foreign institutional investors have been hitting the sell button. The state-owned insurer has bought equities worth R2,500-3,000 crore over the last seven days, sources close to the development told FE.
The Department of Disinvestment has said that the impression created by the news item “Did RBI’s OMO help govt’s NMDC selloff?” is not correct. Reserve Bank of India (RBI) is an independent banking regulator who regularly conducts OMOs (Open Market Operations) as a normal tool of monetary policy as per its analytical mechanisms and policy decisions. Read more