Miscellaneous - This Day That Age   

dated August 4, 1956: Life Insurance Corpn.

Mr. M.C. Shah, Minister for Revenue and Civil Expenditure, told Mr. Aniruddha Sinha in the Lok Sabha on August 3 that the headquarters of the National Life Insurance Corporation would be located in Bombay. The Corporation would begin functioning from September 1. Steps necessary under the law were being taken to constitute the Corporation in time. Arrangements were also being made to organise the business of life insurance so that, with the establishment of the Corporation, there was minimum disturbance or dislocation in the flow of new business. All employees of the nationalised companies would be provided employment by the new Corporation. An assurance to this effect had been given when nationalisation was announced.

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