LIC employees to get over 25pc wage hike dtnext.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dtnext.in Daily Mail and Mail on Sunday newspapers.
Insurance companies to go on relay strike on THESE days, check details
National insurance, Oriental insurance, United insurance and New India Insurance will be closed on March 17. File photo
Updated: Mar 16, 2021, 08:12 PM IST
After a two-day strike by banking unions on March 15 and March 16, unions in the public sector general insurance companies will go on a strike on Wednesday (March 17) and Life Insurance Corporation of India will go on a strike Thursday (March 18).
The joint strike is being held to protest against the government s decision to privatise one of the general insurance companies increasing foreign direct investment limit to 74 per cent and divest stakes in LIC by an initial public offer (IPO). The union also wants fulfilment of demands like ending the NPS scheme and include benefits of the pension scheme 1995 for all. Negotiations for wage revision is also pending since August 2017.
Insurance employees to strike work thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Read more about LIC employees protest against Centre s disinvestment proposal, oppose move on Business Standard. The Budget proposals for 2021-22 on Monday put Rs 1.75 trillion as a target from stake sale in public sector companies and financial institutions
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LIC employees protest against Centre s disinvestment proposal
Life Insurance Corporation (LIC) employees on Tuesday protested against the government s proposal of disinvestment of the corporation in Coimbatore. During the Union Budget on Monday, Finance Minister Nirmala Sitharaman said that the initial public offering of LIC will be brought in through requisite amendments in the session itself.
Talking about the Centre s proposal, a protester told ANI, The government has announced in the budget that the FDI in the insurance sector will be increased from 49 to 74 per cent. Simultaneously the government also declared disinvestment of LIC shares in the Indian stock market. On behalf of the All India Insurance Employees Association, we oppose and condemn the move by the Government of India (GOI). The government proposed to generate 1.75 lakh crores during this year by selling the shares of the public sector. It is against the will of the people.