LIC employees' union up in arms against IPO plan
Mumbai: Employees' union of LIC has strongly opposed the government's plan to sell a part of its holding in the country's largest financial institution through a public issue.
"The government proposes to sell a part of its holding in LIC through an initial public offer," Finance Minister Nirmala Sitharaman said on Saturday while presenting the Budget for 2020-21.
Currently, the government fully owns LIC.
"LIC has always been the last resort for funding for other public sector entities. We strongly oppose the government's proposal to sell a portion of its holding in LIC," All-India Life Insurance Employees Federation General Secretary Rajesh Nimbalkar told PTI.
Further, he said the government's move is against the interest of the public because growth of LIC is the sheer outcome of the dedication and faith of policyholders and its agents.
Any dilution of the government's stake in LIC would shake faith of the policyholders in the institution.
Nimbalkar said though the government has not revealed the amount of stake it plan to sell, going by the past experience it seems a majority stake would be sold, resulting into LIC losing its public sector status.
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Sabarimala gold loss: How did the accused reach Rahul's home, asks Vijayan
Thiruvananthapuram (PTI): Kerala Chief Minister Pinarayi Vijayan on Tuesday hit back at Rahul Gandhi for targeting the ruling CPI(M) over the Sabarimala gold loss case during a poll campaign, questioning how the accused in the case had managed to reach the Congress leader's home.
The Marxist veteran was apparently referring to a widely circulated purported photograph in which the prime accused in the Sabarimala gold loss cases, Unnikrishnan Potty, accompanied by some senior Congress leaders, was seen with Sonia Gandhi at her residence in Delhi.
He also said people have already given a reply to Rahul, the Leader of Opposition in the Lok Sabha, on this matter.
The CM's reaction came a day after Rahul sang a line from a popular parody song about CPI(M) leaders' alleged roles in the gold theft at the Sabarimala temple while addressing a corner meeting as part of the assembly polls campaign in Pathanamthitta district.
As he sang the line "swarnam kattathu aarappa" (who stole the gold of Ayyappa) from a song used by the Congress-led UDF to target the ruling Left during the local body polls a few months ago, at the meeting in Pathanamthitta -- the district where the hill shrine of Lord Ayyappa is located-- the crowd cheered Rahul.
Soon after Gandhi targeted the Left party over the gold loss issue, CPI (M) activists began a social media campaign making allegations against his mother and former party chief Sonia Gandhi in connection with the matter.
While replying to a question regarding this, CM Vijayan said the Congress leader already got a befitting reply and should he also repeat the same.
"If he thinks about how all those who were involved in the stealing had reached his home...then he will get a reply. Anyway, we don't have any such flaws," Vijayan added.
Attacking the Left and the BJP over the Sabarimala gold loss issue, Rahul Gandhi on Monday had said that Prime Minister Narendra Modi had forgotten about what happened in Sabarimala, during his visit to Palakkad as part of election campaign.
Rahul claimed that the prime minister remained silent to avoid damaging the LDF.
He had also said that a UDF government would ensure that those responsible for alleged irregularities related to the temple are punished.
