India Rejects LIC IPO LIC Strike
One lakh LIC Employees & 12 Lakh LIC Agents are on Strike today against IPO of LIC 74% FDI in Insurance Ammendment to LIC Act Privatization of PSUs/PSBs After bankers went on a two-day strike on Monday and Tuesday, unions in the public sector general insurance companies and Life Insurance Corporation of India will go on strike on Wednesday and Thursday, respectively. The unions in the non-life and life sectors will be going on strike protesting against the government's decision to privatise one of the general insurance companies, increasing foreign direct investment limit to 74 per cent and divesting stakes in LIC by an initial public offer (IPO), union leaders told IANS. "All the unions in the general insurance sector have decided to strike work on Wednesday protesting against the government's decision to hike FDI limit to 74 percent, privatize one of the companies and demanding merger of the four companies and early conclusion of wage revision," K.Govi
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