Life Insurance Corporation of India
Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
SEBI fines SBI, LIC and Bank of Baroda
Fine or penalty
In a regulatory action, the Securities and Exchange Board of India imposed penalties of Rs 10 lakh each on State Bank of India, Life Insurance Corporation of India and Bank of Baroda. The fines were levied for violations of mutual fund regulations. The event was reported on 14 August 2020. The penalties apply equally to all three entities, each receiving the same amount. No further details regarding the specific nature of the violations or subsequent outcomes were provided in the source.
India's Securities and Exchange Board imposed penalties of Rs 10 lakh each on State Bank of India, Life Insurance Corporation of India and Bank of Baroda for violations of mutual fund regulations.
Source excerpt
The Securities and Exchange Board of India (SEBI) on Friday imposed penalties of Rs 10 lakh each on the State Bank of India (SBI), the Life Insurance Corp of India (LIC) and the Bank of Baroda (BoB) for violation of its mutual fund regulations.