LIC has bad loans of well over Rs. 12,000 cr

Life Insurance Corporation (LIC) has non-performing assets (NPAs) worth INR 12,230 crore, or 3.3 per cent of its total debt, according to 2014-15 annual report.

This had risen to 4.23 per cent as of December 2015. 

These figures are close to those reported by a few banks during the October-December quarter - SBI (5.1 per cent of loans), ICICI Bank (4.7 per cent), Syndicate Bank (4.6 per cent) and Vijaya Bank (4.32 per cent).

In 2010-11, LIC's Gross NPAs (GNPAs) stood at just 0.95 per cent of its total debt. 

LIC’s total debt of about INR 3,70,625 crore as of March 2015, was higher than HDFC Bank’s loan book of about Rs. 3,65,495 crore in FY15.

Apart from its investments in debentures and bonds, LIC has extended loans to the Centre, State Governments, banks, financial institutions (FI) and companies, which amounted to about INR 1 lakh crore as of March 2015.