The Dharwad division unit of the Insurance Employee’s Union will strike work on March 9 in response to a call given by the All-India Insurance Employee’s Association opposing the passage of the Insurance Laws (Amendment) Bill 2015 by the Lok Sabha on March 4.
A release by the union general secretary U. M. Gadagkar said that the National Democratic Alliance government passed the Bill violating democratic norms and parliamentary procedures.
It was misusing the absolute majority enjoyed by the Bharatiya Janata Party in the Lok Sabha.
The new Bill was meant to increase the foreign direct investment cap from 26 per cent to 49 per cent and it would weaken public sector insurance companies.
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