Congress Demands Investigation into LIC’s Adani Investment

• Congress demands an inquiry into a misuse of Life Insurance Corporation of India (LIC) funds to benefit the Adani Group.

• The party alleges that Union Ministry of Finance and NITI Aayog officials pushed through a proposal to invest nearly ₹33,000 crore of LIC’s funds in the Adani Group.

• The allegations follow an exposé in The Washington Post, which cited internal documents to report LIC’s investment after a U.S. court indicted business tycoon Gautam Adani in a bribery allegations case.

• No immediate response from the Adani Group or the government on the Congress’s allegations.

• Congress president Mallikarjun Kharge questions why Prime Minister Narendra Modi is “squandering” the hard-earned money of 30 crore LIC policyholders.

LIC investment controversy is important topic for Civil service exam (WBCS).

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