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| LIC employees oppose Insurance Amendment Bills | | | Early Times Report
JAMMU, Mar 13: Employees of Life Insurance Corporation (LIC) and Group Insurance Commission (GIC) on Saturday held a protest under the banner of All India Insurance Emplo-yees against the Insurance Amendment bills and demanded withdrawal of such anti-national and anti-policy holders Bills. Rally was led by Dileep Koul General Secretary general insurance employees union (GIEU) and Pawan Gupta, Divisional Secretary Northern Zone Insurance Employees Association Srinagar Division. The protest rally, including women, commenced from Mubarak Mandi and after passing through Chowk Chabutra culminated in front of the Governor House. Addressing the gathering, Pawan informed that two insurance bills have been introduced, one in Lok Sabha and other in Rajya sabha. First bill proposes amendment to three major insurance that is IRDA Act 1999, that proposes to hike FDI in Insurance sector from 26 to 49% and this will allow the foreign insurance companies, which have reached to the stage of bankruptcy in their own country, to gain control over large pool of domestic savings of people of our country. Second GIBNA Act 1972 which proposes to allow four public sector General Insurance companies to disinvest their shares and it is being done only with the aim to privatize the profitable public sector insurance companies under pressure from international finance capital. Third was Amendment to Insurance Act 1938. Later, a deputation of insurance employees consisting of Dalip Koul, Pawan Gupta, Romesh Chand, Rajesh Gupta, Kamlesh Tikoo and Ajit Ram submitted a memorandum to the governor and appealed him to use his good office to persuade government of India for withdrawal of Insurance Amendment Bills.
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