India's largest insurance company,Life Insurance Corporation of India (LIC) which manages funds worth Rs six lakh crore, will soon launch credit cards and introduce Electronic Data Management System that would enable the Corporation to switch over to paperless policies.

LIC is in the process of finalizing the partner and in all probability it would be introduced next month.

Will this mean that giants of Credit Card Industry in India like Icici and Hdfc would get more competition or it will be just another company.With the credit default hurting all Banks, will Lic be abl;e to control bad debts , thats another question, that industry is seeking.