Trade unions, teachers’ associations protest FDI in insurance sector

Up in arms:Trade union members staging a demonstration in Ramanathapuram on Tuesday.— Photo: L. BALACHANDAR
Members of various trade unions and government and teachers’ associations staged a demonstration here on Tuesday, protesting against the passage of Insurance Amendment Bill, allowing Foreign Direct Investment (FDI) in insurance sector.

John Soundarajan, who led the demonstration in front of the Aranmanai, said the protest was to express solidarity with the life and general insurance employees who went on a day’s strike on Monday.

He said when the bill was pending for consideration in the Rajya Sabha, the government in violation of democratic norms, passed it in the Lok Sabha seeking to increase the FDI to 49 per cent. The proposed increase would be against the interest of the nation in general and public in particular, he said.

Pointing out that private insurance companies were not able to sustain, Sivaji, CITU district secretary said the government should desist from increasing the percentage of FDI in the insurance sector, keeping the interest of general public in mind.

Leaders of Bank Employees Federation of India (BEFI), All India Insurance Employees Association, BSNL Employees Union, Tamil Nadu Government Employees Association and Tamil Nadu Government Teachers Association were among others who participated in the stir.

Curated from: Trade unions, teachers’ associations protest FDI in insurance sector

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