Here is LIC trying to sell a ulip plan for creating wealth. Then Mr. Pranab Mukherjee calls up and says “buy ntpc @ 214” so Lic says..ok sir.
Wealth for whom? Govt of India? UNit holder?
And what is IRDA doing this. Let us say if such a deal was done by Tata, Birla, Reliance, Kotak, Hdfc, Icici, – all of them run various businesses would the media have kept quite? Would the Ceo of Tata Aig Life insurance have agreed to buy Tata Steel shares at a 10% premium?
The whole thing sucks…..
PS: I have nothing against ULIP :). It is only illiterate investors not knowing what they are buying and regulators not being to do anything against the big bully.
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