1 lakh LIC employees protest against proposed IPO

Around one lakh employees of LIC staged a walk-out as the government has decided to sell a part of its stake in the life insurance major through an IPO. The finance minister said that the government will sell a part of its holding through an initial public offering (IPO). “Today’s walk-out was completely successful. Of around 1.08 employees and officers at LIC, close to one lakh staged walk-out across the country,” All India LIC Employees Federation (AILEF) General Secretary Rajesh Kumar. He said, “The federation will decide further course of action in its meeting on March 16-18.”