No to expansion in insurance FDI : NZIEA

Northern Zone Insurance Employees Association (NZIEA) organized a protest at scandal point, Shimla on Thursday in which many officials and employees of the Life Insurance Corporation of India (LIC) participated.

The agitation was organized by NZIEA on the national wide call on the very first day of winter session of Parliament today as UPA government had announced to increase the Foreign Direct Investment (FDI) in the insurance from 25 percent to 49 percent.

Addressing protest rally outside LIC office Shimla, Vice President of state unit of NZIEA, Pankaj Sood said that it was staging protest against the introduction of the Insurance Bill in parliament, seeking enhancements in the foreign direct investment (FDI) in the Indian insurance sector.

Since the UPA government has bent upon to increase FDI from 25 percent to 49 percent to benefit the multinational loss making foreign insurance companies of the USA, UK and Europe.

He said that LIC staff in other parts of the state also observed similar gate meetings and agitation as both employees and officers joined it.

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