The business methods of private companies are inscrutable. Now the Reliance Capital Asset Management, one Fund manager of Employees Provident Fund Organisation (EPFO) is trying to sell its 26% stakes to Japanese insurance company Nippon Life. This means that more than 26% FDI is brought in to the Fund Manager company.

The hard-earned money of the lakhs of employees are going to be put at the mercy of the foreign markets through this short route. Naturally the union representative in the EPFO has strongly opposed the move.

The government should immediately act and stop the Reliance company to stop the sale of stakes. The Central Trade Unions should protest against this attack on the hard-earned savings of the workers.