LIC Going For Bank Licence
Tags :
LIC India, lic india, Life Insurance Company, LIC in INdia, Insurance, LIC Insurance, LIC life Insurance,
Industry :
Banking, Insurance
Functional Area : LIC As Bank, Change Management, Strategy Alignment |
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About "LIC Going For Bank Licence" topic:
Over its existence of around 50 years, Life Insurance Corporation of India, which commanded a monopoly of soliciting and selling life insurance in India, created huge surpluses, and contributed around 7 % of India's GDP in 2006.
Life Insurance Corporation of India (LIC), the largest insurer of
the country is also likely to join the race for obtaining a bank
license. Sources
revealed that LIC had wanted to float a bank since a long time so as to
manage the large premium collection and claim settlement work.
Following the announcement made in the union budget 2010-11 that NBFCs and private sector players may obtain bank licenses, many NBFCs are harboring ambitions of turning into banks.
The recent Economic Times Brand Equity Survey rated LIC as the No. 1 Service Brand of the Country.
So, what is the future of LIC??
Lets Discuss...
1 insight
, 6 debates
, 3 idea contests
on topic: "LIC Going For Bank Licence"
Prev1NextShowing 1 - 10 of 10
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(rate this)
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Yes
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6
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10
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No
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suresh g d
| Argues in support of
"No"
| 2 years ago
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People even now prefer to bank with public sector basically due to the in built trust in the institutions developed over years. We should encourace Public sector to grow and not to kill these mighty institutions for some private institutions.
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panchali mukherjee
| Argues in support of
"Yes"
| 2 years ago
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if lic will b banking max. people will b against becoz bank will b running slow. it will take time to come in banking institution.many people will think over & over.
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Debate: "LIC is not in a possition to maintain its basic insurance business in india," deleted from your view.
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(rate this)
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1
LIC can help Banking with their reach
2
doom of policy holder money
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SANJAY KUMAR AGRAWALLA
| Added idea
"doom of policy holder money"
| 2 years ago
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it will be fatal lose of money of the policy holder
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suresh g d
| Added idea
"Yes "
| 2 years ago
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The reach of LIC and the good will generated over years will defematiny be an advantage. once developed Infrastructure and service will be improved. No doubt. Eg State Bank of India.
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Ideate: "How can LIC help interms of Banking in India?" deleted from your view.
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(rate this)
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Yes
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1
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VS |
0
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No
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JAYAKRISHNARAJ.AJD
| Argues in support of
"Yes"
| 2 years ago
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LIC coming for banking business will be a great relief to people. The claims , premium will be received and paid easily.
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Debate: "LIC coming for banking business" deleted from your view.
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(rate this)
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Lic has a huge network of customers but lack in technological inference , to start with banking they need to implement the latest technology avilable in banking to have edge over other competitors in banking industry
Insight: "LIC has huge network of customer which will help it in aquiring the trust of the people to bank with LIC" deleted from your view.
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(rate this)
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yes
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1
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VS |
0
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improved service, competition
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PAKUMAR
| Argues in support of
"yes"
| 2 years ago
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Adequate manpower, technology, qualified manpoer, large resources and funds, satisifed crores of customers
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Debate: "LIC can enter and shine in Banking also" deleted from your view.
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(rate this)
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Yes
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8
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VS |
1
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No
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Megh Shah
| Argues in support of
"Yes"
| 4 months ago
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LIC should also start with the banking field, because LIC is the only government company who is having urban as well as rural support for Insurance. So, if LIC comes up with banking sector also It will very needful other than people diverting to...
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ravikant k. jatia
| Argues in support of
"No"
| 2 years ago
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sorry LIC cannot perform because all banking now is PVT. everybody trusts AXIS, ICICI, HDFC so nobody will trust for sarkari style of customer service. everybody requires quick service in a second which these banks provides nobody wants to stand...
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Mokhtar Alam
| Argues in support of
"Yes"
| 2 years ago
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Obviously Yes, This is good step for LIC of India to open a good market in Banking Industries. Every people trust of this organization in the area of life insurance so obviously banking service will be prove him self as same.
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Debate: "LIC Banking Services" deleted from your view.
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(rate this)
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1
Brand Name
2
Trust & Brand Name
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Aditya Kumar
| Added idea
"Reach !!!"
| 1 year ago
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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...
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satheesh
| Supported idea
"Trust & Brand Name"
| 1 year ago
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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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Ideate: "What are the things that will make LIC a good banking institution?" deleted from your view.
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(rate this)
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1
IRDA refused .. Policy-holders' fund may not be available
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Delay in payments by the companies as well as customers.
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Abhishek Karagwal
| Supported idea
"Delay in payments by the companies as well as customers."
| 1 year ago
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there should be good payment system by the company for their employees. Too they should train them well in further customers dealings.
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Abhishek Karagwal
| Added idea
"Delay in payments by the companies as well as customers."
| 1 year ago
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no comments.
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Ideate: "From Insurance To Banking - What are the problems LIC may face?" deleted from your view.
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(rate this)
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Yes
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55
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VS |
16
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No
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BIBHASH ROY
| Argues in support of
"Yes"
| 1 year ago
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yes..they have such infrastructure and since they are established brand in the country...so they can try this also and i am sure they will get success as govt will surely be supportive to them..
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Ajay Mehta
| Argues in support of
"No"
| 1 year ago
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LIC is known to the entire nation as the epitome of Insurance Service. the innovation in product line, the quality of service and to top it all it being a PSU gives a lot more comfort feeling. but in today's competitive market, concentrating on...
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Leena Khade
| Argues in support of
"Yes"
| 2 years ago
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In my opinion LIC should enter into the banking sector. The sector is slow in growth but lucrative. With a market share of over 60 per cent in the life insurance space, LIC has subsidiaries operating in housing finance and mutual funds. So, LIC...
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Debate: "Should LIC enter into banking space in India??" deleted from your view.
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(rate this)
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advisor
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2
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VS |
0
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sales
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chandan kumar
| Argues in support of
"advisor"
| 1 year ago
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I Am HAPPY to do my work
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Debate: "CHANDAN" deleted from your view.
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