New Delhi, Nov 6
Life Insurance Corporation CEO & Managing Director R. Doraiswamy said on Thursday that the company has passed on the full benefit of the recent Goods and Services Tax (GST) exemption to its customers.
LIC expects that exemptions on life insurance products will boost business volumes, support top-line growth, and provide opportunities to optimise expenses.
LIC on Thursday reported a robust 32 per cent increase in standalone net profit to Rs 10,053.39 crore for the second quarter of the current financial year compared with the corresponding figure of Rs 7,620.86 crore in the same period of the previous financial year.