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Insurance employees oppose hike in FDI in insurance sector 3/3/2015 11:22:17 PM Early Times Report Jammu, March 3: Insurance employees across the State held massive demonstrations today against the Insurance Laws Amendment Bill introduced in Lok Sabha today which proposes to hike the FDI in insurance sector from 26% to 49% and also proposes for disinvestment in public sector GIC. The demonstration all over the state was led by Com. Pawan Gupta Divisional Secretary NZIEA J&K and Com. A.M.Tantray President of NZIEA J&K. The demonstrations were held under the banner of All India Insurance Employees' Association. Speaking on the occasion outside LIC Head office at Jammu, Comrade Romesh Chand and Com. Dinesh Sharma, members of the State Unit lambasted on the NDA Govt. for this anti nation move and said that allowing HIKE IN FDI in insurance sector would help the international finance capital to gain greater control and access over the domestic savings of the Indian public; and such money of Indian people will not be safe in the hands of the foreign companies.Com. Romesh Chand contradicted the logic of the NDA Govt. that more capital , which will come through FDI, will help in bringing more business in insurance sector because in insurance sector more capital does not mean more business;' and it becomes clear when we see that LIC of India with a mere capital of 100 crore has brought a total premium income of Rs/236798/crore in the Financial year 2013-14.   Share This News with Your Friends on Social Network     Comment on this Story

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