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Silchar Division Insurance Employees’ Association holds strike to protest Insurance Laws (Amendment) Bill 2015 passed by Lok Sabha
TIWN
Silchar Division Insurance Employees’ Association holds strike to protest Insurance Laws (Amendment) Bill 2015 passed by Lok Sabha
PHOTO : Silchar Division Insurance Employees Association hold protest at Agartala.TIWN Pic March 9

AGARTALA, March 9 (TIWN): Along with the North Eastern Region General Insurance Employees’ Association (NERGIEA) Silchar Division Insurance Employees’ Association also organized a strike to protest Insurance Laws (Amendment) Bill 2015 passed by Lok Sabha at Paradise Chowmuhani, here today.

 Describing, the Indian public sector insurance industry of the country as the “most successful”, Joint Secretary of Silchar Division Insurance Employees’ Association Shyamal Chakraborty accused the BJP Government of trying to permit “invasion of our insurance sector by private big business, both foreign and indigenous.”

Silchar Division Insurance Employees’ Association expressed their opposition to the Centre’s decision to enhance the share of Foreign Direct Investment (FDI) to 49 per cent in the insurance sector of the country from the existing 26 per cent. They also opposed the Central Governments’ proposal to disinvest 49 per cent of its share in the public sector general insurance companies of the country.

The Insurance Laws (Amendment) Bill, which provides for raising the foreign investment cap from 26 per cent to 49 per cent, was passed by the Lok Sabha after a short debate recently. The bill, seeking to replace an ordinance on the subject, is likely to be taken up by Rajya Sabha, Shyamal Chakraborty mentioned.

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