Allegations Raised Over LIC Funds, Rejected By Insurer
Life Insurance Corporation of India (LIC) has firmly denied allegations that it misused the savings of its policyholders to benefit the Adani Group. The claims were made by senior Congress leader Jairam Ramesh, who alleged that “the savings of LIC’s 30 crore policyholders were systematically misused to benefit Adani Group companies.”
LIC’s Response
LIC dismissed the allegations as “false, baseless and far from truth.” The insurer clarified that all investment decisions are taken independently, in line with board-approved policies, and after thorough due diligence. It also underlined that no government department has any role in directing its investments.
Political Demand For Inquiry
The controversy arose from reports suggesting a large investment plan by LIC into Adani companies in May 2025. Following this, the Congress party demanded a probe by the Parliament’s Public Accounts Committee to examine whether funds were improperly channelled.
Unresolved Dispute
While LIC has rejected the allegations, the Adani Group and the central government have not issued detailed responses. The row continues to fuel political debate over the transparency and independence of India’s largest state-owned insurer.
