Life Insurance Corporation of India has agreed to offer Rs 1.25 trillion Line of Credit by 2024, to fund highway projects. LIC has offered Rs 25,000 crore in a year and Rs 1.25 trilion in five years. The borrowings will be in the form of bonds to be issued by the National Highways Authority of India.
The Line of Credit will be used to fund the ambitious Bharatmala project.
Static/Current Takeaways Important For RRB NTPC/IBPS RRB Main:
- Chairman of LIC : M R Kumar.
- Union Minister of Road Transport and Highways: Nitin Jairam Gadkari.
Source: The Business Standard