'FDI in insurance sector is not good'

He was speaking after inaugurating 22nd annual meet of the association organised at Vardhamanaiah Choultry in the city. Venugopal fretted that increase in foreign direct investment may force the companies here to come under the influence of those countries.

Citing the example of inflation that has returned to haunt USA again, Venugopal said many are under the myth that America is stronger in economy, besides leading in many other fronts.

The insurance companies’ workers are facing many crises and struggle for justice is the only way to redress the same. The employees must organise themselves and put up a united show during adverse situations, he advised further.

District president of the association Vijaykumar, vice-president B Bhaskar Somayyaji, drug sellers association president Balaram, CPI district unit secretary Jagannath and CITU president Balaji Rao were present.

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