LIC–ADANI INVESTMENT CONTROVERSY
The LIC–Adani investment issue emerged after a Washington Post investigation alleged that the Government of India, through internal notes of the Department of Financial Services and NITI Aayog, prepared a roadmap in May 2025 to channel nearly USD 3.9 billion (₹33,000 crore) of LIC’s funds into Adani Group companies. The alleged proposal involved USD 3.4 billion in corporate bonds and USD 507 million in equity, at a time when the conglomerate required refinancing support. The report claimed that officials justified the move by arguing that government bonds offered “limited upside” compared to Adani bonds
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