Stalin slams Centre’s move to ‘privatise’ LIC

Criticising the LIC’s filing of Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), Chief Minister M K Stalin has said that the move is undesirable and targeted the Centre for its ‘selling spree’.

Taking to Twitter, Stalin said, ‘LIC over the years has catered to the needs of crores of Indians, earned their trust and has provided social security with its efficient functioning.’

He added that the Centre’s act of filing DRHP with SEBI to sell 5% of its stakes is an undesirable move and undoubtedly a move towards privatisation. He mentioned that the decision is not in the interest of people or the organisation.

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