New Delhi: Life Insurance Corporation of India (LIC) invested ₹38,658.85 crore in Adani Group equities, and an additional ₹9,625.77 crore in the conglomerate’s debt instruments, all in line with its standard operating procedures (SOPs), Finance Minister Nirmala Sitharaman informed the Lok Sabha on Monday.

Responding to a question, the minister stressed that the Finance Ministry had no role in directing or advising LIC on its investment decisions. “The Ministry of Finance does not issue any advisory/direction to LIC in connection with matters related to investment of LIC fund,” she said in a written reply.

Sitharaman said LIC’s investment choices are made independently, following “strict due diligence, risk assessment and fiduciary compliance.” These are governed by the Insurance Act, 193

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