The All India Insurance Employees’ Association opposed government’s decision to increase foreign direct investment in the sector to 49 per cent by approving the Insurance Laws (Amendment) Bill and the Pension Fund Regulatory and Development Authority Bill. In a press release, Insurance Corporation Employees’ Union general secretary N. Adhish Reddy said they would go on a one-day nation-wide strike if the government went ahead, enacting the Insurance Laws (Amendment) Bill in Parliament.

The Cabinet decision to hike FDI in the insurance sector was ‘clearly against all democratic norms’, he said. -Special Correspondent