Thanks to the IDBI and IL&FS deals, LIC is under pressure

India’s insurance behemoth, Life Insurance Corporation of India (LIC), has done something for the first time in its history. It has set up a ‘stressed-asset cell’ (SAC). The cell will monitor non-performing assets and other loan accounts which may go bad. The cell has been opened by the monitoring and accounting (M&A) wing of LIC’s investment department and is headed by a secretary-level official. LIC insiders say the initiative is too