Date:07/10/2008 URL: http://www.thehindu.com/2008/10/07/stories/2008100752070300.htm

Andhra Pradesh - Kadapa

LIC union threatens stir

Special Correspondent

KADAPA: LIC Employees Union national general secretary K. Venugopal on Sunday warned that insurance employees would go on a day’s strike if the UPA government introduced in the Parliament the Comprehensive Insurance Bill in increasing the limit of foreign investment.

In the wake of the Indo-US nuclear deal, private insurance companies in India and the US were pressurising the UPA government to take up reforms in LIC banking, pension and provident fund companies, he alleged. Such reforms would ruin the Indian economy like in the US, he feared.

He opposed the reforms mooted in Life Insurance Corporation of India, in the wake of private insurance companies becoming bankrupt in the US.

Union’s Kadapa divisional president S. Sultan Mohiddin presided. Its zonal president B. Rajendra Prasad, divisional general secretary B.V.S. Raju, CITU district vice-president B. Narayana, zonal committee member A. Raghunatha Reddy and women’s wing convenor Y. Srivani participated.