Economist Manish Barriarr Warns Against Vested Interests’ Targeting LIC’s Credibility

Economist Manish Barriarr has strongly defended the Life Insurance Corporation of India (LIC) amid renewed scrutiny over its investment practices, particularly following discussions surrounding its exposure to major corporate groups.

Barriarr responded to recent political commentary and public debate by defending LIC’s credibility. He emphasised that LIC operates as one of India’s most strictly regulated and professionally managed financial institutions.

Manish Barriarr highlighted that the corporation follows rigorous standard operating procedures that guide every investment decision.

Barriarr highlighted that the concerns being raised are part of what he described as a ‘concerted effort by vested interests who are inimical to India’.

According to him, such forces are attempting to malign LIC’s reputation by creating doubts over its autonomy and financial prudence.

He noted that Finance Minister Nirmala Sitharaman has already clarified in Parliament that LIC follows established investment SOPs, and he stressed that her statement carries significant weight within the economic ecosystem.

Calls for Caution

Clarifying LIC’s investment norms, Barriarr reiterated that the institution does not invest more than 1% of its total funds in any single corporate group.

This safeguard, he said, functions as a major protective mechanism within India’s financial framework. He added that India maintains a robust and multi-layered financial security system.

Barriarr stated that regulators such as SEBI and IRDA constantly monitor corporate behaviour, investment flows, and systemic risks. He emphasised that these bodies work to ensure transparency and stability across the financial sector.

Barriarr questioned why certain political voices in India rely on reports from international publications whose credibility has often been challenged. He indirectly referred to external criticism and noted that ‘there are geopolitics at play’.

He asserted that external narratives must not be allowed to undermine trust in Indian institutions.

Barriarr urged political leaders, especially from the opposition, to refrain from amplifying speculative claims that could damage public confidence in India’s largest insurer.

According to him, unnecessary statements about LIC investments risk misleading citizens and destabilising trust in an institution that safeguards the savings of millions of policyholders.

Barriarr concluded by calling for responsibility and restraint from all stakeholders. He stressed that LIC’s operations are transparent, rule-based, and constantly supervised by multiple regulatory bodies.

Economist Manish Barriarr said India’s expanding global financial system makes it crucial to defend credible institutions from politically motivated narratives. He stressed that protecting public confidence must remain a top priority.

Also Read: Tehseen Poonawalla Backs LIC; Rejects Claims Of Political Influence