LIC Rebuts The Washington Post Report by Ravi Nair, Calls Allegations ‘False and Baseless’

New Delhi, October 25 (TNA) The Life Insurance Corporation of India (LIC) on Saturday issued a strong rebuttal to a report published in The Washington Post authored by journalist Ravi Nair, dismissing the article’s claims as “false, baseless, and far from the truth”.

The Washington Post report alleged that Indian finance ministry officials had fast-tracked a proposal in May 2025 to channel about USD 3.9 billion (₹33,000 crore) from LIC into the Adani Group amid global scrutiny of the conglomerate’s finances. The story suggested that the move reflected external influence over the state-owned insurer’s investment strategy.

Refuting these claims, LIC stated that it had never prepared or received any document or plan directing investments into Adani companies. The insurer emphasised that all investment decisions are made independently, following “board-approved policies, detailed due diligence, and strict regulatory compliance.” It added that the Department of Financial Services or any other government body has no role in its investment choices.

In its official statement, LIC said, “The allegations appear to have been made with the intention to prejudice LIC’s well-settled decision-making process and to tarnish the reputation of India’s financial sector institutions.” The corporation reiterated its commitment to “the highest standards of integrity and transparency” in all investment operations.