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Dec 24, 2008

Insurance Corporation Employees Strike

The Insurance Corporation Employees’ Union on Wednesday resorted to a strike in protest against the two Bills introduced in Parliament. M. Nagarajan, president, and V. Suresh, general secretary, said that the Union Government had introduced two comprehensive bills on insurance in Rajya Sabha and a Bill to hike Government’s equity from Rs. 5 crores to Rs. 100 crores. Citing the recent incidents wherein the global financial giants witnessed a jolt in the economic crisis, the association blamed the Government of not having learnt its lessons. The move to increase FDI in insurance was a retrograde measure, they said.

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