Several clauses in Insurance Act Amendment Bill against spirit of nationalisation, says LIC union leader
1 month ago

Several clauses in Insurance Act Amendment Bill against spirit of nationalisation, says LIC union leader

The Hindu  

Members of the All India Insurance Employees’ Association conducted a signature campaign to bring forth the public opinion in Kadapa on Sunday on the Union Government’s proposal to allow 100 per cent Foreign Direct Investment in the insurance sector. The event was conducted under the leadership of AIIEA zonal working committee member Akbar Basha, where leading personalities such as Tourism Department’s retired Director P. Gopal, noted medical professional Mahaboob Basha and Yogi Vemana University College principal Raghunatha Reddy affixed their signature. The leaders openly extended their support to Life Insurance Corporation of India, known for its ‘credibility and social responsibility’, over what they called the ‘failed foreign insurance companies’. LIC union leaders A. Raghunatha Reddy and Sudheekar termed the hurried manner in which the Central government reportedly tried to push through the Insurance Act Amendment Bill in the Parliament, as ‘undemocratic’.

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History of this topic

LIC’s focus on protecting the poor is changing: Rahul Gandhi
1 week ago

LIC’s focus on protecting the poor is changing: Rahul Gandhi

The Hindu  

Leader of Opposition in the Lok Sabha Rahul Gandhi on Wednesday met a delegation of Life Insurance Corporation of India agents and discussed recent changes in rules. Mr. Gandhi in a social media post said the changes in rules by the Insurance Regulatory and Development Authority of India and the LIC would make insurance less affordable to the poor and …

LIC hopes to decide on stake in health insurance company by March: Report
Trending News
1 week, 1 day ago

LIC hopes to decide on stake in health insurance company by March: Report

India Today  

Life Insurance Corporation of India hopes to decide on acquiring stake in a health insurance company by the end of March, its chief executive said on Tuesday. Competition in India’s insurance business has risen in recent years as private insurers have ramped up their presence in the health insurance market to tap into growing consumer demand. LIC sells life insurance …

LIC employees protest against Centre's disinvestment proposal
4 years, 1 month ago

LIC employees protest against Centre's disinvestment proposal

India TV News  

LIC employees protest against Centre's disinvestment proposal During the Union Budget on Monday, Finance Minister Nirmala Sitharaman said that the initial public offering of LIC will be brought in through requisite amendments in the session itself. During the Union Budget on Monday, Finance Minister Nirmala Sitharaman said that the initial public offering of LIC will be brought in through requisite …

LIC 'disinvestment': Outrageous idea
5 years, 1 month ago

LIC 'disinvestment': Outrageous idea

The Hindu  

The biggest bombshell in Finance Minister Nirmala Sitharaman’s Budget speech lay in something the Finance Minister does not even have the authority to do: the proposed sale of a portion of the government’s “stake” in Life Insurance Corporation of India. Nirmala Sitharaman’s perfunctory statement, “The government now proposes to sell a part of its holding in LIC by way of …

Budget 2020 | Unions protest LIC stake divestment move
5 years, 1 month ago

Budget 2020 | Unions protest LIC stake divestment move

The Hindu  

Employee unions of the Life Insurance Corporation of India on Saturday opposed the Centre’s plan to sell a part of its stake in the state-run insurance behemoth through an initial public offering, insisting that the move was “against national interest.” Finance Minister Nirmala Sitharaman said the LIC would be listed as part of the government disinvestment initiative. The government proposed …

1991 reforms through the eyes of an insurance agent
8 years, 3 months ago

1991 reforms through the eyes of an insurance agent

Live Mint  

Ram Krishan Taheem has been selling dreams for almost three decades now—or at least that’s how he describes his job as a sales agent for the Life Insurance Corp. of India. Most people have their first contact with an insurance company through people like Taheem, whose job is to help individuals and businesses select policies that provide the best protection …

Passage of Insurance bill is in the country's interest: BJP | IndiaTV News
10 years ago

Passage of Insurance bill is in the country's interest: BJP | IndiaTV News

India TV News  

New Delhi: After the passage of all-important Insurance bill by Parliament tonight, Government said it is a step in the interest of the country's progress and will help strengthen the economy. He said the Insurance bill is a reform initiative that is in the interest of the country's progress and all important parties have helped support it. Parliament tonight approved …

Rajya Sabha sends Insurance Bill to Select Committee: All you need to know
10 years, 7 months ago

Rajya Sabha sends Insurance Bill to Select Committee: All you need to know

Firstpost  

Giving in to opposition pressure, the government on Thursday referred the controversial Insurance Bill to the Select Committee of Rajya Sabha. The bill, which proposes to hike FDI limit in insurance sector to 49 percent, was caught in logjam with the Congress-led opposition insisting that certain new provisions incorporated in the bill required a fresh look and expert consideration. What …

Insurance bill: No breakthrough in all-party meeting
10 years, 7 months ago

Insurance bill: No breakthrough in all-party meeting

India TV News  

New Delhi: The controversial Insurance bill has been deferred for consideration in the Rajya Sabha for the time being after a meeting of the government with opposition leaders failed to break the deadlock in the face of demand to send it to a Select Committee. The meeting, convened by Parliamentary Affairs Minister M Venakaih Naidu, could not iron out differences …

Insurance amendment bill test awaits govt in RS
10 years, 7 months ago

Insurance amendment bill test awaits govt in RS

Hindustan Times  

The Modi government will have to match its intent to drive reforms with ample floor management skills in Parliament this week, especially since the insurance amendment bill comes to Rajya Sabha Monday where the NDA is short on numbers. Samajwadi Party and Bahujan Samaj Party, which sprung several last-minute surprises in Lok Sabha to turn the tide in favour of …

Call to scrap amendment bills
13 years, 4 months ago

Call to scrap amendment bills

The Hindu  

Members of the Insurance Corporation Employees' Union, Madurai division, staged a lunch-hour demonstration here on Tuesday demanding that the Central government scrap the LIC and Insurance Law Amendment bills Answering a call given by the All India Insurance Employees Association in view of the Parliamentary Winter session commencing on Tuesday, the protestors raised slogans pressing various demands. According to the …

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