Image Source: TRIBUNE

The 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. To mark their protest, they will observe a one-hour strike on February 4.

Presenting the Budget yesterday, Finance Minister Nirmala Sitharaman said the LIC would be listed as part of the government disinvestment initiative. The government proposes to sell a part of its holding in the LIC through an IPO, she said.