vadodara this diwali the life insurance corporation of india is likely to disappoint investors on the bonus front lic managing director a ramamurthy who was here on tuesday to inaugurate the metro area network at its divisional office said investors should be ready for some adjustments on bonus this year ramamurthy said the bonus adjustment will have to be made because of interest rate cuts across all segments of financial institutions in india expectations should not be high some adjustments in bonus will have to be made these adjustments are being made in the wake of the reduction in interest rates ramamurthy said in his address at lic vadodara division conference hall he nonetheless stressed that lic was still the best in terms of investment returns on investment and safety we are still the best insurance company the safest bet and the best return providers on investment he said ramamurthy also drew home the point that in the increasing competitive scenario lic will have to make certain changes this he said however does not mean slashing premier rates as it was expected it did not happen immediately after the insurance sector was opened up it will not happen now as competition is taking firm roots we are ready for the competition and will take them head on ramamurthy said he stressed that lic was sprucing up its services we are upgrading our technology adding personal touch to the gamut of services that we offer and improving the overall standards of our business ramamurthy said at the same time ramamurthy also admitted that lic was completely dependent on its agents for business we strongly feel the time has come to provide proper and professional training to our agents orient them towards the needs of changing business environment and provide them direction in order to achieve better business objectives all this while taking due care of the vocal and latent needs of the clients he said he said the launching of the metro area network in vadodara division is part of its overall objective of providing better and speedy service lic has a commitment to ensure not only customers satisfaction but also customers delight we are rated as the second largest user of computers and information technology in india and is hoping to become the largest soon he said he said about 13 crore policy holders are getting speedy and efficient service from its 2048 fullycomputerised branches across the country ramamurthy also linked the increased use of technology with customer relationship management crm he emphasised that even in the first year of deregulation 200001 lic achieved landmark results in all areas of new business lic he said sold over 2 crore new policies in 200001 and the total premium income of lic stood at rs 34877 crore it has 1013 crore policies in force while its total life fund was over rs 186000 crore he said lic vadodara division officers too made a point to remind about their share of success in