Life Insurance Corporation of India (LIC), the country’s largest insurer, would look for a new joint venture partner for its credit card venture following the exit of US-based financial serivces company GE Money. Sources close to the development said LIC would announce the revised holding structure of the credit card business by the end of October.
Sources said after the exit of GE Money from the card venture, LIC has not yet shortlisted any player who could hold the 35 per cent stake that GE were to own in the proposed credit card business.
