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Banks want removal of GST from LIC premium

The employees of All India Bank Officers’ Confederation (AIBOC), Life Insurance Corporation of India (LIC) and others public banking sectors accused Modi’s government for misusing public money.

Published: 04th April 2019 06:02 AM  |   Last Updated: 04th April 2019 08:11 AM   |  A+A-

By Express News Service

HYDERABAD: Claiming that the public money is being diverted from the banks to  private sectors and to business outlets for political motives, various unions of public banks on Wednesday held a seminar here under the banner of ‘People’s money for people’s welfare’.

Demanding non-privatisation of public banks, removal of GST on LIC insurance premium, merger of public banking sector and disclosure of list of bank defaulters,  the union claimed that they will vote for the party who would include these demands in their manifesto. The employees of All India Bank Officers’ Confederation (AIBOC), Life Insurance Corporation of India (LIC) and others public banking sectors accused Modi’s government for misusing public money. “The banks are blamed for the non-performing assets (NPAs) but the the truth is something else. People like Vijay Mallya get money on the directions of the government,” said G Subramamiam, secretary  of AIBOC (AP & Telangana).



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