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LIC strike today: Employees protest against proposed IPO, privatisation, FDI limit hike

Sumary of LIC strike today: Employees protest against proposed IPO, privatisation, FDI limit hike:

  • In her Budget speech, Finance minister Nirmala Sitharaman announced that the government would divest its stake in LIC through an IPO…
  • Employees of the Life Insurance Corporation (LIC) will observe a one-day strike against the Centre’s proposed divestment plan…
  • The employees are also protesting against the government’s proposal to privatise one general insurer and enhance the FDI limit in the insurance industry from 49 percent to 74 percent…
  • At present, LIC is 100 percent owned by the government of India and is the country’s largest insurance company…
  • Explained | Why public sector employees across India are protesting against privatisation and what is Centre response The strike by the LIC employees comes two days after the nationwide bank strike which impacted banking services throughout the country….

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