TAMIL NADU

Insurance employees strike work

Demand: Employees of public sector insurance companies staging a demonstration in Tiruchi on Tuesday.

Demand: Employees of public sector insurance companies staging a demonstration in Tiruchi on Tuesday.   | Photo Credit: — Photo: R. Ashok

Staff Reporter

Heeding to a nation-wide strike call, protesting against the Insurance Bill

TIRUCHI: Officers and employees of Life Insurance Corporation and other State-owned insurance companies struck work in the district on Tuesday, heeding to a nation-wide strike call, protesting against the Insurance Bill and

demanding the Central government to withdraw its proposed move to increase the Foreign Direct Investment limit from 26 to 49 per cent in the insurance sector.

Members of the Joint Struggle Committee comprising officers and employees of State-owned insurance companies staged a demonstration in front of the National Insurance company in the city to express their protest against the government’s decision. All the officers and employees, belonging to various trade unions, of the public sector insurance firms in the district struck work in their respective offices.

The insurance staff are also opposed to the amendment to the LIC Act, 1956 which seeks to increase the capital base from Rs. 5 crore to Rs. 100 crore. This amendment would ultimately lead to privatisation of the LIC in the longer run, say the unions.

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