Raising FDI limit in LIC opposed

Staff Reporter

KRISHNAGIRI: Life Insurance Employees Federation has said that it opposed increasing of Foreign Direct Investment (FDI) cap in the insurance sector.

At an open house meeting held here on Thursday, V. Janakiraman, South Zone president of the federation, said that Prime Minister Manmohan Singh and Finance Minister P. Chidambaram were trying to increase the FDI cap in LIC. Beside, the Prime Minister wanted the LIC to invest in share markets.

To oppose the Insurance Bill signatures of 240 MPs had been obtained, said Dharmalingam, secretary, Salem region.

K. Agoram, District Coordinator for Central and State employees unions spoke at the function.

Recommended for you