InvestorQ : Why are the employees of LIC protesting against the selling of the stake in LIC by the government of India?
Rashi Mehra made post

Why are the employees of LIC protesting against the selling of the stake in LIC by the government of India?

Answer
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Ishita Jain answered.
7 months ago



Life Insurance Corporation (LIC) employee, All India LIC Employees Federation had declared to hold an hour-long protest strike on 04th Feb 2020. The reason for the protest is to express the discontentment among them towards the government's recent decision to sell a partial stake in LIC through an initial public offering (IPO).

In one of the report, a protestor said, that the decision of divestment in LIC is against national interest as LIC have been contributing in nation-building activities for many years. 


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sarah Leo answered.
7 months ago


The unions are of the view that privatization of LIC over a period of time will lead to unnecessary change in work culture including arbitrary transfers, reduction of regular full time staff, stringent working hours etc. The Unions blamed the government for the recent fall in asset quality of LIC and said that privatization was not an answer to the problem.