LIC workers and officers all through their issue in Dharwad on Thursday.  

Opposing the Union authorities’s decision to checklist Lifestyles Insurance Company of India (LIC) in the stock market through an IPO, the choice to lengthen FDI limits in the insurance protection sector to 74% from 49% and privatise one public sector general insurance protection firm, the workers and officers of LIC observed a one-day strike in Dharwad on Thursday primarily based fully totally on a nation-wide strike name.

LIC workers, officials and likewise damaged-down workers staged a demonstration in front of the divisional office of LIC in Dhawad and vehemently opposed the Union authorities’s transfer. Raising slogans against the Centre, they talked about that promoting shares of LIC became nothing however snatching financial savings of commoners and filling the coffers of some.

The speakers addressing the protestors talked about that LIC belonged to the of us of India and resulting from this truth, the sale of its shares would mean depriving the of us of “their jewel”.

They talked about that LIC had grown so a lot in the final 64 years from an initial investment of ₹5 crore by the authorities in 1956. Mentioning the contribution of LIC in nation building, they talked about that at most original LIC’s property had crossed ₹32 lakh crore.

They talked about that LIC had been a lifeline 24 x 7 now not correct for the authorities however also for the percentage market and a wonderful deal of a firm had survived out there on tale of of LIC. Disinvestment in such an institution would mean a lethal blow to the nation because it became splendid LIC which had penetrated rural India, they talked about.

Terming the IPO as a predominant step in direction of privatisation, they talked about that after IPO of nationalised banks became initiated, the of us of the nation were told that it became now not privatisation and banks wouldn't be privatised. But now the authorities had presented the choice to privatise public sector banks. It had now been revealed that barring six, all other public sector banks would be privatised, they talked about. They talked about that the choice to lengthen FDI (International Affirm Funding) to 74% would be unhealthy for the Indian economic system.

Krishna Anvatti, Secretary of Federation of LIC Class I Officers Affiliation, Dharwad; Laxmikant A. Naik, Secretary, Nationwide Federation of Insurance Topic Workers of India, Dharwad, and Uday Gadagkar Traditional Secretary, Insurance Workers Union, Dharwad (AIIEA), and union leaders, collectively with B.N. Poojari, C.M. Sambrani, A.M. Khan, and others led the issue. The protestors told the Union authorities to rescind its decision on LIC IPO and the choice on increasing FDI restrict.