The mega initial public offering of India’s biggest state-backed insurer could result in job losses and impact the company’s social infrastructure spending plans, according to one of its largest trade unions.
Life Insurance Corp. “was formed to provide insurance to rural and social and economically backward people,” Rajesh Kumar, general secretary of All India LIC Employees’ Federation, said in an interview with Bloomberg TV on Tuesday. The company, which has been funding capital-intensive infrastructure projects such as roads, railways and power for more than six decades, may instead focus on “profit-maximizing investments” after the IPO, Kumar said.
"impact" - Google News
September 07, 2021 at 12:45PM
https://ift.tt/3BKmsDF
Indian Insurer IPO May Impact Jobs, Social Spending, Union Warns - Bloomberg
"impact" - Google News
https://ift.tt/2RIFll8
https://ift.tt/3fk35XJ
Bagikan Berita Ini
0 Response to "Indian Insurer IPO May Impact Jobs, Social Spending, Union Warns - Bloomberg"
Post a Comment