ANDHRA PRADESH

Insurance employees go on strike

Registering protest: Insurance employees staging a dharna in Hyderabad on Tuesday. -

Registering protest: Insurance employees staging a dharna in Hyderabad on Tuesday. -   | Photo Credit: Photo: G. Krishnaswamy

HYDERABAD: Members of the Joint Action Committee comprising General Insurance Employees’ Union, Hyderabad branch, All-India LIC Employees’ Federation, South Central Zonal Council, and Insurance Corporation Employees’ Union on Tuesday struck work for a day.

The employees protested introduction of the Insurance Amendment Bill in the Rajya Sabha and FDI hike from 26 to 49 per cent in the insurance sector, by holding rallies in front of the United India regional office in Basheerbagh, and LIC divisional office, Saifabad.

On Monday evening, members of the federation resorted to a ‘lightning action’ by taking out a candle rally from the AITUC office in Himayatnagar to United India branch in Basheerbagh.

P. Mallesh, general secretary, in a statement said the proposed hike has characteristics of foreign portfolio investment and is likely to be volatile and vulnerable, when the requirement is sustainability, reduced volatility and undisturbed growth. Leaders of fraternal organisations like CITU, AITUC and in banks, State and Central Governments addressed the employees at Saifabad. According to N. Adhish Reddy, general secretary of the union, about 800 employees took part in the strike.

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