LIC denies Washington Post allegations of external influence in investment decisions
Mumbai: The Life Insurance Corporation of India (LIC) has strongly refuted allegations made by The Washington Post suggesting that its investment decisions were influenced by external factors, particularly in relation to the Adani Group.
In an official statement issued on Saturday, LIC termed the claims “false, baseless, and far from the truth,” asserting that no such document or plan, as alleged in the article, has ever been prepared by the corporation to channel funds into Adani Group companies.
The statement clarified that all investment decisions are made independently by LIC, following Board-approved policies and after thorough due diligence. “The Department of Financial Services or any other body has no role in these decisions,” the insurer said, adding that all investments strictly comply with existing policies, statutory provisions, and regulatory guidelines.
LIC emphasised that it maintains the highest standards of transparency and accountability in the interest of all stakeholders. It further stated that the article’s purported claims appear to have been made with the intention of undermining LIC’s established decision-making process and tarnishing its reputation, as well as the credibility of India’s financial sector.
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Firms being arm-twisted to divert investment from Karnataka: Priyank Kharge
New Delhi (PTI): Companies are being arm-twisted to divert their investments from Karnataka despite the state having the best talent ecosystem, state's IT, biotech and rural development minister Priyank Kharge said on Friday.
The minister said it has taken 40 years to develop the entire ecosystem in the state that suits investors.
"Why is semiconductor going to Gujarat, Assam? That's my question? That's what I have been asking. Why is it going to Gujarat? Why is it going to Assam? When PLI comes, they have to choose their state. The name is Karnataka. How does it become Gujarat by the time the application reaches Delhi? They are coming to my state. Why are they being arm-twisted to Gujarat?" Kharge said.
He was speaking to reporters on the sidelines of a roadshow in the national capital for the Bengaluru Tech Summit 2026 to be held in November.
"They are coming to our state only. They want to invest in our state. It works out for them. It is profitable for them. Our human resource is one of the most agile and best in the world. But yet, they are going to be pushed to Gujarat," Kharge said.
During the event, Kharge said Karnataka is planning to rejig policy on data centres to promote sustainable data centres.
"There is a serious need for states and the central government to bring up policies for sustainable data centres. That's exactly what the government of Karnataka intends to do," Kharge said.
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