LIC employees go on strike

Employees of the LIC of India went on strike on March 18, 2021 in opposition of the government’s plan to reduce its holding in the firm through an initial public offering. According to a report by CNBC, the insurance employees’ strike came days after employees of government-owned banks held their own two-day strike against the proposed privatisation of two public sector lenders.

The strike was called by the All India Insurance Employees’ Association and other trade unions, protesting against the central government’s proposals, saying that they are detrimental to the insurance industry, India’s economy, and the welfare of people.