The Insurance Employees’ Union, Belgaum division, celebrated its 19th foundation day by hoisting the union’s flag here on Tuesday. This was followed by an oath-taking ceremony.

Union president G.V. Kulkarni complimented the members for their support and involvement in various activities undertaken by the union.

General Secretary of the union P.A. Joseph criticised the imposition of economic and financial policies that undermined the public sector status of the LIC of India. In the name of economic reforms, the government was implementing unwarranted policies, he said.

The Insurance Act Amendment Bill seeking an increase in foreign direct investment in the insurance sector from 26 per cent to 49 per cent was a blatant attack on the interest of policyholders, he added.

N. Bheemappa, president of Class I Officers’ Federation, Belgaum, D.S. Kulkarni, Vice-president, and C.S. Bolgundi, joint secretary, spoke on the occasion.