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.

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All Saturdays will be public holiday for LIC

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.