Govt failed to get FAC okay for Yettinahole project: Petitioner

New Delhi, Feb 2: Budget 2020 announcement that insurance behemoth LIC will be listed was well received by market participants who said this will be "IPO of the decade" akin to the Saudi Aramco listing.

Finance Minister Nirmala Sitharaman on Saturday said Life Insurance Corporation (LIC) will be listed as part of the government disinvestment initiative.

A "highlight of the budget is the LIC IPO, which is akin to the Saudi Aramco listing for Indian capital markets, and will be IPO of the decade," Vijay Bhushan, President, Association of National Exchanges Members of India (ANMI) said.

According to Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, the LIC IPO will be a big positive for corporate governance and transparency and will open up one more avenue for fund raising for the government over the years.

Metropolitan Stock Exchange, Interim CEO, Balu Nair said: "The LIC listing will be eagerly awaited by investors and will provide huge fillip to capital raising through the primary market." The government proposes to sell a part of its holding in LIC through an initial public offer, Sitharaman said while presenting Budget 2020-21.

"The government will sell part of LIC through its listing in the stock market which is also a positive trigger for the market," Amit Gupta, CO-Founder and CEO, TradingBells.

Jaideep Hansraj, MD and CEO of Kotak Securities said listing of LIC would help bridge a gap in the Fiscal Deficit for FY21.

Currently, the government owns the entire 100 per cent stake in LIC.

Saudi Aramco shares were listed in December last year.

Mangaluru, May 30: Accusing the chief minister B S Yediyurappa led Karnataka government of ignoring frontline warriors against covid-19, Mangaluru MLA U T Khader has demanded immediate release of pending salaries of doctors, lab technicians and nurses hired under the National Health Mission.

Addressing a press conference in the city today, the former minister said that Congress would launch an agitation if the government fails to release the amount immediately.

The non-payment of salaries clearly shows that the government has no concern for the COVID-19 warriors who are serving on a contract basis for two months, he said.

Mr Khader said there are 23,000 personnel hired under the National Health Mission in Karnataka including 600 in Dakshina Kannada district alone.  All of them are waiting for their salaries for the last two months.

“Asha workers were also partially paid for the month of April. If the government had concern towards COVID-19 warriors, they would have paid extra for the doctors, nurses, and other workers who are working tirelessly in the fight against COVID-19 at the grassroots level,” he added.

Mangaluru, Jan 13: A truck parked at the site of protest against the new citizenship law and National Register of Citizens (NRC) at Deralakatte on the outskirts of the city was charred down to ashes after it was set on fire by miscreants, police said here on Monday.

Police said that Deralakatte Citizenship Protection Committee had organised a protest rally against the Citizenship Amendment Act (CAA) here on Sunday. After the rally concluded, a few unidentified miscreants set the vehicle on fire.

The incident resulted in chaos, causing panic among the locals who informed the police immediately.

Condemning the incident, the local unit of Popular Front of India has claimed that the incident was an attempt by saffronist goons to disrupt peace and trigger communal riot in the region. It has urged the police to nab the accused immediately without yielding to any political pressure.