Udupi: Condemning FDI & end to traditional LIC Policy ”Chalo Hyderabad” on Sept 18

Pinterest LinkedIn Tumblr


Udupi; Sept 16: Addressing the media reporters in press meet held on Sept 16,Monday at Pathrika Bhavan,Ramesh Kumar, State chief secretary,LIC,AOI,said in his speech that opposing the FDI (foreign direct investment) in LIC and closing of traditional LIC policy “Chalo Hyderabad”programme has been organized on Sept 18,Wednesday.

He further added that union government, for the last one decade urbanization-privatization-globalization policies are being implemented in India. Corporate institutions are welcoming foreign investments in mega industries, Public service centres and nigamas.As part of these joint partnership facilities will be given to private companies for an investment.


In the continuing partnership, service centres like BSNL100%, defence zone 70%, sundry business 49%, in banking 60%, in transport zones, these facilities have been already started.

These types of attempts in LIC field already, 26% opportunities have been created. Unable to complete, the 23 companies, those have invested premium money from the policy holders, in the business are running at loss and thereby savings in LIC has become retreat. Union government is contemplating to amend LIC act 2008 continuosly, in order to bring 26-49%FDI in LIC.

In view of making LIC non-existence, union government is continuously amending LIC from time to time. Like in the past, LIC traditional policy has to be continued along with autocover.Enough time has to be given for policy holders in LIC changes like N.E.F.T,not to be made compulsory immediately. Attitude of disparity in paying advance loan for LIC agents in drought hit places of Karnataka and Andhrapradesh should be corrected. Already many demands have been placed inside and outside parliament by staging protest. With many more demands in hands,”Chalo Hyderabad” programme has been organized. In this struggle around 250 LIC agents from Udupi region will be participating, he informed.

Naveen Suvarna, V K Prabhu, Yogesh Kotian, Shankar SP, Yusouf Ahmed and among others were present.

Write A Comment