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Why is LIC bailing out a private firm (IL&FS)?

It never ceases to amaze me as to why everyone looks to the Life Insurance Corporation (LIC) for a handout when the chips are...

Takeover of IL&FS by LIC looks like a scam

It is astonishing that a public sector company, LIC, is being forced to bail out a private company Life Insurance Corporation of India (LIC) seems...
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