The Life Insurance Corporation, the country's largest financial sector entity, could soon get a makeover. At stake is clearing up governance roles within the organisation, ensuring more transparency in securities market investments and a possible listing. The finance ministry recently appointed a committee headed by former RBI Deputy Governor Vepa Kamesam with a wide-ranging mandate to suggest reforms in LIC. Both Kamesam and LIC chairman TS Vijayan refused to comment on the development. LIC has often enjoyed a very close relationship with the government especially in its securities market operations.
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