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Insurance employees hold protest, oppose FDI hike in insurance 3/13/2015 11:47:43 PM Early Times Report Jammu, Mar 13: Insurance Employees held demonstrations across the State against the Insurance Laws Amendment Bill introduced in Lok Sabha which proposes to hike the FDI in insurance sector from 26% to 49% and also proposes for disinvestment in public sector GIC. The demonstrations all over the State were led by Pawan Gupta, divisional secretary, NZIEA, J&K and AM Tantray, president, 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, Romesh Chand and Dinesh Sharma, members of the State Unit lambasted the NDA Government 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. Pawan Gupta said latest example is announcement of investment of Rs 150000 crore by LIC of India in Indian Railways. This move of the Govt. is only to please the international finance capital under the pressure of American imperialism and IMF. He cautioned the general public to beware of the foreign companies who had nearly went bankrupt in their own countries during the financial crisis of 2008, the biggest example being the largest insurance company of America, 'AIG'. He stated that it was only due to hard struggle of the members of the AIIEA that we could halt the said bill till now since opening of insurance sector in 1999. And he further appealed to the employees to continue the path of struggle to stop the Govt. to further hike the FDI in Insurance sector.   Share This News with Your Friends on Social Network     Comment on this Story

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