Silvester D'Souza

Daijiworld Media Network - Kundapur (SP)

Kundapur, Oct 18: "During the last 25 years, many things have changed, and there have been significant changes in economic and social sectors. We are under compulsion to get acclimatized with globalization and other changes. At the same time, there is apprehension that the current administration is siding with corporate and that it might adversely affect middle income and working classes," said president of Hyderabad-based South-central Zone Insurance Employees Union, K Venogopal Rao.

He was speaking after inaugurating the 58th divisional conference of Insurance Employees Union Udupi Division held at Rotary Lakshmi Narasimha Kalamandir of the government PU college here on Monday October 17.

"The government, which has increased the foreign direct investment limit in insurance sector, appears to be working in favour of capitalists. There is a need to retain insurance in public sector and the process of nationalization should be given additional impetus," he argued. He said that the insurance sector has contributed immensely to the increase in country's gross domestic product. He explained that Life Insurance Corporation of India has always worked with concern for its customers and has been upholding their interests.

Vice president of the union, S K Geetha, joint secretaries, K Jayateertha and J Suresh, participated as chief guests. President, K Vishwanath, Ushalatha Shetty, A S Acharya, A M Ballal and others were present.

Ratna Balakrishna compered the programme. General secretary, U Gurudath, proposed the vote of thanks. 200 to 250 LIC employees, agents, and development officers from LIC offices across Dakshina Kannada, Udupi and Chikkamagaluru districts participated.