Fin Min writes to EPFO on suspension of LIC Hsg Fin invsts

The Finance Ministry has written to the Employees Provident Fund Organisation of India (EPFO) board on the suspension of investments in LIC Housing Financing. The EPFO board had suspended Rs 392 crore worth of investments plan till the inquiry is in progress.

The Finance Ministry asked the EPFO to look at LIC Housing Financing & Parent as a company and not as individual acts. An organisation cannot be discredited on an individual misdemeanour, it said. LIC Housing Financing is AAA Rated and is fully backed by LIC.

The ministry said that all assets in LIC Housing Financing were secure and none impaired.

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