Drop move to hike FDI in insurance: Union

Tiruchirapalli, Sep 15: The General Insurance Employees Union- Madurai Region has urged the Centre to drop its move of increasing foreign direct investment in insurance sector from 26 per cent to 49 per cent.

In a statement here today, President of the union's Tiruchirapalli District Committee, Ms M Jamuna Rani, also wanted the government to merge all the four general insurance companies -- New India Assurance, National Insurance, Oriental Insurance and the United India Insurance-- into a single unit on the lines of the Life Insurance Corporation of India.

The promotion policy should be implemented without any delay and the ban on the appointment of people on compassionate grounds should be removed.

The vacancies that arose due to the implementation of the special voluntary retirement policy should be filled up immediately, she said.

She also wanted the Centre to ensure the early execution of the Sethusamudram Shipping Canal Project (SSCP), 33 per cent reservation for women in Parliament and State Legislators and payment of minimum wages of Rs 80 per head for work executed under the NREGA Scheme.

UNI