The Centre has declared every Saturday as a public holiday for Life Insurance Corporation (LIC) with immediate effect.
This latest move of the Department of Financial Services (DFS) has been taken under the Negotiable Instruments Act 1881.
Over one lakh LIC employees are expected to benefit from the Centre's decision on this front.
This decision comes at a time when LIC employees are eagerly awaiting wage revision, which is due from August 1, 2017. LIC management had this Monday conducted a virtual meeting with employee unions and conveyed that the final details of the wage revision will be announced soon.