| Topic : LIC Going For Bank Licence |
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Banking & Insurance Professionals |
Investment Hub |
Bajaj Allianz |
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Activity:
198 views;
last activity : 07 12 2010 16:39:35 +0000
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Brand Name
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Trust & Brand Name
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Goodwill Reputation- A organization for all
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PSUs are the major contributors to the economic growth of modern India
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Upcoming company
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Reach !!!
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Another view...
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Gr8 Idea
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Goodwill Reputation- A organization for all
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brand equity and consistence performance of LIC has made it a successful enterprise
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LIC as a Bank .. who controlls .. IRDA or RBI .. ?
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To Train its People to increase the Network in Banking
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Huge Customer Base and Large Frontline Sales Personnel
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LIC is a very old & trusted brand in India. Hopefully we all are the customers of the LIC, either directly or indirectly. People have blind trust on this name & this due to the services what LIC have provided its customers from many years... |
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LIC is a trusted brand in the insurance sector. People blindly take insurance policies just by the name LIC. That is the belief which my clients have. Sometimes the delay in giving policy bonds doesnt go well with the customers. I suggest electronic policy bonds
PSUs are the major contributors to the economic growth of modern India; PSUs have played a significant role in building the country’s infrastructure, enhancing national economic development, generating surpluses for capital formation and contributing to government revenue. Major areas - essential infrastructure goods and services, exploration and exploitation of oil and mineral resources, technology development and building of manufacturing capabilities in areas which are crucial in the long term development of the economy.
LIC had strong financial results over many years and could tide over the recent turmoil faced by the financial industry especially the banking sector and hence we believe that this product would generate interest among retail as well as institutional investors.
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LIC is a strong brand name in Indian Insurance sector and hopefully all have trust on LIC. Many countries population is less than LIC customers. LIC should have to keep this trust and brand name in future & for forever.
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i agree with kulkarni.LIC is not only having brand name.It also have gained everyone's trust in india.
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It is the major factor that will make LIC a good a banking institution. It is a organization where a high income group as well as a low income group can invest in insurance. All other companies have not any platform for those customers who are interested to invest less than Rs. 5000 in a year but LIC have. They want to cover only high value investors whereas LIC covers both high value and low income. And the second major factor is Government undertaking means more safety/trust than others....... |
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PSUs have played a significant role in building the country’s infrastructure, enhancing national economic development, generating surpluses for capital formation and contributing to government revenue. Major areas - essential infrastructure goods and services, exploration and exploitation of oil and mineral resources, technology development and building of manufacturing capabilities in areas which are crucial in the long term development of the economy. |
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good that it wii enter as bank when icici idbi can why not lic old co and reasonably well managed good work force and also has the potentia to create large employment, it can also cater to neds of urban and rural as there is the presence when we can allow alliens into ibdia def we welcome the move good luck
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Present Max New York Life company in insurance sector is growing very fast, survey conducted by Magazine OUT LOOK MONEY insures this.
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LIC is the best when it comes to the most important P of he 4Ps . PLACE!! ... LIC has the best reach in india. This reach marks its physical presence in the rural, semi-urban and urban crowd. With so much Visibility and Reach... no doubt LIC has reached TOP OF THE MIND spot of an indian consumer.
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My view...before defining the aspects of strengths one needs to be clear about the segment of the market that LIC might look at capturing as a banking institution...only post tht can the strengths n weaknesses be discussed.
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Its really a great idea to becoming a bank But the hitch will be the beauracrats behind the scence can ruin everything.
Also about the name, then they should change the name as well.. MAY be BCI(Banking corporation of INDIA).
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LIC: Life In Country, we may say that LIC is attached to most of Indian's life.Its goodwill is time tested and trusted by Indian. Its presence in India is @ every corner. Its present customer base is more than most of countries.So, Goodwill reputation and service oriented culture of LIC will make it a good banking institution.
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LIC OF INDIA, being India's leading life insurance company and prominent investment institution in the corporate zone, has crossed many milestones. The number of policy holders speaks about its volume of business and area of operations. Now LIC of India has reached every small village in India with its distinct and diversified insurance products. As LIC has alrerady established good customer loyalty and service in he mind of the customers and banking institution will also attract the great customer base and add value to its existing business line. his would make the things easier for policyholders and customers who have difficulty in paying thier regular premiums. It can also help the the Corporation to link its all different business entities such as housing finance, mutual funds, life insurance etc. |
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... Private players and NBFCs are being encouraged by our FM for a Bank ... why not LIC Housing Finance pray for a Banking licence ? But ... questions lie elsewhere :- --- The "shark" in a deep-sea and "chitah" in a deep forest - may show its strength when the places are changed ? ----- Desposits in Insurance_premium and (Bank) "Deposits" are same ? --- Banking and Insurance are two different things. Risk cover for lives require a good capital base. May not banking business erode LIC's capital base ? --- As per LIC Act it has only 5,000 crores as Capital and they are duty-bound to distribute incomes as 'dividends" --- not true ? --- LIC has no experience in lending and in "Priority Sector Lendings" ( a must ) - they have not seen things like NPA --- May LIC handle NPA and its management ( LIC agents might be taught what is NPA ) --- In India, (generally) agents are not allowed to handle Banking businesses, no intermediaries allowed, no gift allowed, no commission allowed - even then may LIC use their agents for a otherwise dull business called Banking ? --- LIC has no Rural Branch -- yes no. --- We have seen the fate of AIG - insurance and banking was mixed up --- May LIC Act permit such new business ? --- Who will control LIC - RBI or IRDA ? ( our respected FM - only the other day U was advocating 'mergers and amalgamation of Banks in India - have U abandoned such a proposal ? ) |
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By Building awareness and mutual trust in consumer's mind, LIC can become a Reputed bank easily, so far Insurance market was dominated by LIC but now the situation is changed and in Banking Industry, LIC has to compete with other big banks like SBI , AXIS & ICICI etc I feel better Training and understanding of Banking guidelines for its staff is a must to succeed in future.... |
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Because every successful oragnisation has two basic things i.e. Strong Customer Data Base and Frontline Sales personnel |
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