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Central Repository of Information on Large Credits (CRILICS) is an RBI-run database of credit exposures of various lenders including those towards non-performing borrowers.
Most of LIC’s debt investments are in central as well as state governments’ debt securities.
The LIC chairman said that not having access to CRILIC data is a risk for the insurer as its liabilities are long-term while assets are short-term.
The lack of access to CRILICS tilts the balance negatively towards LIC, Mohanty said, adding that he is optimistic that the central bank will allow the much-needed access to this database as the discussions with the regulator has been smooth and positive so far.
When asked about LIC’s exposure towards non-government securities and state bonds, he told PTI that the company has over Rs 3 lakh crore of exposure to corporate debt. While the insurance company’s equity exposure is over Rs 10.5 lakh crore, its total investments are over Rs 45 lakh crore.
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