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Posted on Nov 05, 06:44PM | UNI
Hundreds of LIC agents from Kerala will join the Parliament March called by the Life Insurance Corporation Agents Organization of India (LICAOI) against proposed Foregin Direct Investment hike in the sector, on November 29.
Talking to reporters here today,LICAOI Kerala State General Secretary T K Viswan said proposal to hike FDI to 49 per cent would jeopardise the major financial institution which has an assets of more than Rs 14 lakh crore and 11.5 lakh crore life fund.
Accusing the government on the move to appoint 'direct sales executives,' he said it would be a major threat to the LIC agents, who collected premium from every nook and corner of the country.
The agents would also stage fast before LIC branch offices to protest the director appointment on November 7, he added.
LICAOI is affiliated to the pro-CPI (M) Centre of Indian Trade Union (CITU).