<div>State-run Life Insurance Corporation of India (LIC) on Wednesday committed Rs 150,000 crore to Indian Railways for developing various projects.</div><div> </div><div>LIC would invest in one of the largest railway networks in the world over a period of five years.</div><div> </div><div>"LIC has taken the task of supporting Indian Railways. It is a commercial decision. LIC will invest Rs 1.5 lakh crore over a period of five years," Finance Minister Arun Jaitley said.</div><div> </div><div>The investment would be done in bonds issued by various railway entities such Indian Railways Finance Corporation (IRFC), beginning next fiscal.</div><div> </div><div>On an average, LIC will be subscribing bonds worth Rs 30,000 crore over next five years, its chairman S.K. Roy told PTI after the signing of MoU between Indian Railways and LIC.</div><div> </div><div>When asked about that what kind of interest rate LIC would earn from this investment, Roy said, "The rate is yet to be finalised. Since it is would be a commercial decision, it would be win-win situation for both."</div>
