LIC's the great gilts gobbler

 Over 60 per cent of the long-term government papers issued in the current fiscal have been mopped up by the insurance industry.

 The Life Insurance Corporation of India (LIC) alone accounts for over 55 per cent of the Rs 18,000-crore of long-term paper issued till July 15. With growth in business, the new insurance players have also become active in government auctions.