EPFO, LIC buy one-sixth of India’s power debt
The Employees Provident Fund Organisation (EPFO), which manages around $100 billion in savings, bought Rs 11,848 crore of Ujwal Discom Assurance Yojana (UDAY) bonds, while the Life Insurance Corp (LIC) bought bonds worth Rs 4,300 crore. Banks, as expected, bought the majority of the debt totaling Rs 99,541 crore in the fiscal year that ended on March 31.
