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LIC was once the symbol of trust for millions of Indians. Today, it has been reduced to a personal piggy bank for cronies. LIC is now the sole buyer in Adani Ports’ ₹50,000 crore bond sale — no one else was willing to touch it. Why? Because the risks are too high. But when it’s the aam aadmi’s hard-earned money, who cares? Instead of safeguarding policyholders’ savings, LIC is being used to bail out billionaire friends.

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