REFORMS MAY ALLOW GIC ARMS, LIC TO TIE UP WITH PVT COS
Article Abstract:
The Government of India is likely to allow the Life Insurance Corporation (LIC) and the 4 subsidiaries of the General Insurance Corporation (GIC) to have tie-ups with the private sector. This may be done once the insurance sector is opened up and the Insurance Regulatory Authority offers licence to the private sector. The Government may allow the 4 subsidiaries of GIC to sell a part of their equity to the private sector. It may also consider hiving off certain tie- ups. GIC will be holding the remaining subsidiaries. LIC may be allowed to have tie-ups to broadbase its pension business. (ag)
Comment:
The Government of India is likely to allow the Life Insurance Corporation (LIC) and the 4 subsidiaries of the General Insurance Corporation (GIC) to have tie-ups with the private sector.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MAKE THE IDEA WORK
Article Abstract:
The Chairman of the General Insurance Corporation of India (GIC), D Sengupta, has suggested that all Class-III workers - clerks - should be promoted as officers. This involves over 40,000 employees. It will result in a higher salary bill. This suggestion will benefit GIC which has excess staff in the lower cadre. It will be difficult to get work out of excess staff due to trade unionism. The mass promotion will solve the trade union problem to some extent. When these clerks are made officers, files will move faster. These comments have been made in an editorial. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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