LIC Saturday holiday, LIC holiday list 2021, LIC holiday on Saturday, LIC holiday news, LIC salary hike, revision

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LIC staff to get Saturday off with instant impact 

The Central authorities has declared Saturday as holiday for Life Insurance Corporation (LIC) staff. LIC is a state-run insurance coverage firm beneath the possession of Ministry of Finance.

The authorities has amended the Negotiable Instruments Act, 1881 to declare Saturday as a public holiday with instant impact, that means no bodily works shall be carried out at its branches on Saturday. 

The LIC places of work throughout the nation will work on 5 days (Monday to Friday) each week. The places of work shall be closed for guests on each Saturday and Sunday.

The newest resolution will profit 1.14 lakh staff of the LIC. LIC staff had been demanding from the federal government to declare Saturday as a public holiday for lengthy.

In one other associated improvement, the Centre has introduced wage revision w.e.f. 1.8.2017. The authorities has issued a notification to revise pay packets for LIC staff.

According to Shreekant Mishra, basic secretary, All India Insurance Employees Association (AIIEA), the pay hike for the staff is predicted to be over 25 per cent per 30 days.

The insurance coverage and funding company was established in 1956. 

READ MORE: Good News! LIC staff to recover from 25% wage hike

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