Demonstration by insurance employees in Giridih, Jharkhand against LIC’s IPO

Report received from Mr. Anil Kumar Verma


Employees of Life Insurance Corporation of India (LIC) under the banner of Giridih branch unit of Insurance Employees Association, Hazaribagh Mandal protested against the announcement of LIC IPO in the budget speech by the finance minister.

On the occasion, Divisional Assistant Secretary Anurag Murmu said that LIC is a strong and strong financial institution. Starting with a capital of 5 crores in 1956, LIC has now acquired assets of 38 lakh crore rupees. So far, LIC has invested Rs. 32 lakh crores in various five-year plans in the development of the country’s infrastructure. Also, when it comes to investing in any other institution, LIC stands at the forefront. LIC has invested in various private and public companies of the country. In such a situation, bringing an IPO of such a strong financial institution is not in the interest of the country and the insurance holders.

It is wrong to bring such a provision in the budget by the finance minister. That’s why the employees are opposing it.

In the program Anurag Murmu, Samhita Sarkar, Kumkum Bala Verma, Vijay Kumar, Rajesh Kumar Upadhyay, Daniel Marandi, Rajesh Kumar, Umanath Jha, Vinay Kumar, Neeraj Kumar Singh, Shweta, Anjali Shweta, Shweta Kumari, Saba Parveen, Sukriti Burman, Pragyanand, Nitish Kumar Gupta, Pritam Kumar Mehta, Abhay Kumar, Deepak Kumar Paswan, Kuljeet Kumar Ravi, Pankaj, etc. were present.

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