Government today clarified that there is no proposal to privatise General Insurance Corporation of India, GIC at present. In a written reply in Rajya Sabha, Minister of State for Finance Bhagwat Karad said the listing of LIC is proposed in the Draft Red Herring Prospectus filed with the Securities and Exchange Board of India.<br />''<br />''He said the proposed listing will enable the Government to unlock the value of its investment in LIC, position LIC to raise capital from the market for its future growth, and improve its governance through greater market discipline and transparency. <br />''<br />''<span style="color: #222222;">He said these benefits will equip the Government and LIC to pursue growth of the economy and the insurance sector and  promote development and social protection.</span><br />