Mumbai, Mar 18 (PTI) Life insurance giant LIC has requested the Reserve Bank to introduce long-term government bonds, including 100-year paper as well, a top official said on Tuesday.
Siddhartha Mohanty, Managing Director and Chief Executive of LIC, said the insurer sells whole life policies, which need investments in long-term bonds.
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The RBI has been giving permission to 20-30 years bonds, and has also given a go-ahead for a 40-year bond, he added.
"I am also expecting 50-year, even 100-year bonds. Our people are discussing this from time to time with RBI, and they are also considering this," Mohanty told reporters on the sidelines of the GCA25 here.
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Further, he pointed out that while many countries issue 100-year bonds in the global market, India has yet to introduce such bonds due to limited demand and low activity in the secondary market.
{{/usCountry}}Further, he pointed out that while many countries issue 100-year bonds in the global market, India has yet to introduce such bonds due to limited demand and low activity in the secondary market.
{{/usCountry}}Mohanty said LIC has been very active in the G-sec (Government Security) investments, and added that the insurer has been subscribing to over a fifth of the issuances.