LIC IPO: Sebi seeks reply from banks for 'opening' demat accounts on pretext of state-run insurer's upcoming issue; these banks under scrutiny
On stepping into the bank branches, one would find that the marketing is being done based on the LIC IPO. The offers, he said, include full waiver of charges on opening the demat accounts for one year; no charges on opening of the account and so on and so forth
SEBI has also taken note of the practice prevalent among many LIC agents of selling LIC policies, luring customers with likelihood of shares getting assigned to them when the IPO is launched. Source: Reuters