About new products, he said LIC was working on several participating (par) and non-participating (non-par) policies that would be launched going forward. LIC filed the Draft Red Herring Prospectus (DRHP) for the Initial Public Offering (IPO) this month. The government expects to mobilise about Rs 63,000 crore from the proposed Offer for Sale (OFS) to meet the lower disinvestment target of Rs 78,000 crore for the current financial year. The insurer had infused Rs 4,743 crore in IDBI Bank on October 23, 2019 using policyholders' funds while the bank further raised Rs 1,435.1 crore on December 19, 2020 by way of a QIP. IDBI Bank has come out of the prompt corrective action framework in March 2021, subject to compliance with certain conditions and continuous monitoring.