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| Lic employees hold demonstration to support strike of idbi bank employees, officers | | |  Early Times Report
Jammu, Aug 11: LIC employees of Jammu and Kashmir held massive demonstration outside LIC offices today on 11th August 2025 under the banner of Northern Zone Insurance Employees’ Association Srinagar Division against the proposed privatization of IDBI BANK, against disinvestment of Regional Rural Banks; and against hike in FDI to 100% in Insurance sector.
The demonstration was done as a part of nationwide call of All India Insurance Employees’ Association to support the cause of IDBI Bank and Regional Rural Banks apart from opposing hike in FDI in Insurance sector. Speaking on the occasion at D.O.Cell Jammu, Com. Pawan Gupta-Divisional Secretary of the Association said that the total FDI, at present, in insurance sector, is only around 32% of the capital employed and so increasing the limit from 74 percent to 100 percent has no logic. The AIIEA is of the firm understanding that allowing total freedom and greater access to foreign capital could only retard the orderly growth of the insurance industry with the focus more on profits rather than providing the people and business the much needed security.
Moreover, foreign capital can never be a substitute to the domestic savings. He said that employees and officers of IDBI Bank are on strike on 11th August 2025 against the proposed privatization of the Bank. At present 91% of the capital of IDBI Bank is contributed by the government and LIC together; and the government has proposed to disinvest 64% of the capital thus leading to its privatization. The LIC employees strongly oppose such move and the policy of the government to sell the profit making Public Sector leading to weakening of the economy of the country. Similarly RRBs (Regional Rural Banks) also come in the category of Public Sector as the capital is contributed by the Central Government, State Government and the Public sector Banks. Here also the government has advised the disinvestment of the RRBs which, in no case, is in the interest of the nation. Such moves of the government are neither in the interest of the Nation and nor in the interest of the customers and employees. So LIC employees condemn this move, strongly oppose this move and will fight tooth and nail to stop it. Others who spoke- Com.Rajesh Gupta and Rajesh Kumar-Joint Secretaries, Dinesh Kumar Sharma-Vice President, Raj Kumar-Treasurer, Mohan Lal, Priya Sharma, Sushma Jamwal,Shunali Gupta, Neeraj Bhagat, Harkesh Kumar Singh, Kishore Lal, R.P.Singh, Karan Kumar and others. The programme in Srinagar was led by Com. Syed Aadil Imam-President NZIEA Srinagar Division along with Amarjeet Singh, Ajaz Ah. Dar, Gulshan Singh, Rohula Fayaz, M.Y.Koul and others. The programme was organized at Samba by Surat Singh, R.S. Pura by Jagdish and Rajesh Sapolia, Udhampur by Anjesh Sharma and Hem Raj, Rajouri by Vikas and Vinod Sharma, Doda by Anmol Sharma, Poonch by Raj Kumar and Kathua by Vijay Verma and Mohan Lal. |
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