AIIEA condemns the government proposal to hike Foreign Direct Investment in Insurance sector from 76% to 100%

Circular and Press Release of All India Insurance Employees Association (AIIEA)

All India Insurance Employees Association condemned the government proposal to hike Foreign Direct Investment in Insurance sector from 76% to 100%. It pointed out that greater access to foreign capital will be a great risk to the people’s savings. The direction of economy will be for profits of small group of people and the economic security of people will be jeopardised. Domestic savings will be handed to the foreign capital. The union has decided to give wide publicity to this anti-people move.