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Center of Indian Trade Unions (CITU) condemns Modi government’s direction to LIC to acquire 51% stake in debt-ridden IDBI bank and also the IRDAI for giving permission violating its own norms of not allowing LIC to hold more than 15% shares in banks.

This move of Modi government will be helping the corporates, who have dragged IDBI into huge losses through NPAs, and the government itself by mopping up over Rs.13,000 crore from LIC to meet its fiscal deficit.

LIC is the only insurance company which is having a track record of 99.92% of claims settlement and is having the highest confidence of the public. This move of the government will lower the small investors like workers, presents, middle class employees and professionals’ confidence in LIC. This act of the government is also to favor private players in insurance sector.

In a letter to LIC chairman on 25 June, the biggest oraganisation of LIC employees, All India Insurance Employees Association (AIIEA), opposed LIC’s taking over 51% shares of debt-ridden IDBI bank.

CITU demands of IRDAI to withdraw its exceptional decision allowing LIC to acquire 51% stake in loss making IDBI bank and of the Modi government to desist from pressuring LIC to acquire 51% shares of IDBI.

(Tapan Sen)

General Secretary


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Dear Comrade,

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The final figure of signatures collected in central zone against GST on insurance premium.

Name of Division No. of Signature
Bhopal 1,18,591
Raipur 1,05,698
Shahdol 71,328
Jabalpur 65,835
Indore 65,000
Bilaspur 29,531
Gwalior 26,500
Satna 22,700
Total 5,05,183

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Dear Comrade,

We have prepared the comparative statement of the check off results of AIIEA and other unions of Class III & IV. This is for your information.

Pl find attachment for the same.


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Dear Comrades,
 
Please find the attachment for the draft Memorandum addressed to the Chairman, GIPSA.
 
As decided in the Standing Committee Meeting held at Hyderabad on 22nd and 23rd May, our Units should collect the signatures from all the employees and officers from 1st July to 15th July. 
 
After obtaining the signatures of officers and employees on the Memorandum  the same will be sent to the following address:
 
The Chairman,
General Insurers' (Public Sector) Association of India (GIPSA), 
Ground Floor, Jeevan Tara Building, 
5, Sansad Marg,
New Delhi - 110 001.
 
Units are requested to take two xerox copies of the signed memorandum and one copy has to send to the CMD of the respective company and one copy to the respective Region/State unit.
 

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Dear Comrade,
 
Serious Campaign against Disinvestment of PSGI Cos
 
You are aware that the BJP led NDA Government made certain amendments to GIBNA Act during the Budget session of Parliament in 2015.  After the passage of the Insurance Laws Amendment Bill in the Parliament, the Government is contemplating to move ahead with rapid speed for implementation of the changes. While presenting the budget in the Parliament, The Finance Minister has announced that the 4 PSGI Cos will be listed in Stock exchanges and 10% of their shares will be offloaded to the Public. This is one of the most dangerous steps taken by the Government to weaken the PSGI Cos.  In order to protect the PSGI Cos from the onslaught of the Central Government by its retrograde policies with evil designs, we have to unleash serious campaign in the days to come.  All the State/Regional units are advised to observe the following programme of action.
 
Programme of Action
1.    AIIEA’s letter to CMDs dated 5th April, 2016 has to translate into vernacular and should be distributed to all the employees in all the offices.
2.    Organise Conventions/Seminars minimum in 2 centres of the Region/State before 15th May on the dangers of disinvestment.
3.    Leadership has to tour to all the District Centres and meetings are to be conducted highlighting the dangers of disinvestment.
4.  Distribution of pamphlets amongst the all sections of employees throughout Region/State.
5.  Observe the 126th Birth Anniversary of Dr.B.R.Ambedkar on 14th April by organizing Seminar/Convention on that day with a slogan “Protect & Strengthen Public Sector General Insurance Companies”.
6.  Observe the 13th May (Nationalisation Day of the PS General Insurance companies) by highlighting the success story of the PSGI Cos. before and after opening up of the insurance sector to private companies.
 
After observance of the above programme, units shall send the reports to headquarters which will be reviewed in the Standing Committee meeting to be held at Hyderabad on 22nd & 23rd May, 2016.
With greetings,
 
Comradely yours,
K.V.V.S.N.Raju
Secretary, Standing Committee (GI) AIIEA.

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Dear Comrades,

Please download brief reportage received from SZIEF on the Flood Relief Work undertaken at Chennai and other flood affected areas of Tamilnadu.


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Dear Comrades,
 
Please download the attachment for Statistics of 2 September 2015 one day strike.
 

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Dear Comrade,
 
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Dear Comrade,

As per the decision of the Working Committee of AIIEA, joint forum in general insurance also formed and issued the circular on 6th July, 2015.

Please find attachment for the circular issued by Joint Forum.

 

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