""FLASH NEWS""

"" “The tentative decrease in D.A. Slabs is 9 for the months from February,2017 to April,2017 - The net number of slabs for Feb.,2017 stands at 469"".."" ALL MEMBERS OF NFGIE/GICEU: PL ENSURE PAYING LEVY ON WAGE REVISION IMMEDIATELY ON RECEIPT OF ARREARS TO THE RESPECTIVE STATE /REGIONAL UNITS TO STRENGTHEN FINANCIAL POSITION OF NFGIE AS WELL AS STATE UNITS OF GICEU""....."" WAGE ARREARS WILL BE PAID ON 05th FEB.,2016""...."" WAGE REVISION FILE WAS CLEARED BY FINANCE MINISTRY ON THURSDAY 14TH JAN.,2016 ONLY. EXPECTING NOTIFICATION AT ANY TIME. HOWEVER, ON TUESDAY 19TH JAN.2016 GIPSA GOVERNING BODY MEETING HELD AT 'GOA'. PAYMENT DATE MAY BE DECIDED BY GIPSA AUTHORITY.""..."" NEXT ROUND OF DISCUSSIONS WITH GIPSA ON 04TH, 5TH & 6TH nOV., 2015 AT HOTEL GOLCONDA,HYDERABAD- NFGIE SLOT FOR DISCUSSIONS ON WAGE REVISION WITH GIPSA AT 2 PM ON 04.11.2015""...""Received a call from Mr A K Singhal, Advisor, GIPSA to our National Federation General Secretary, Mr P S Bajpai regarding the next round of Wage Talks on 29th October 2015 (Thursday) at Mumbai. Detailed Circular follows.""..."" We have been informed by Mr. Vasant Khande,Mumbai that Mr. Ashish Shelar,MLA and BJP President of Mumbai is going to attend our NFGIE conference on 1st October,2015 in Chennai""...""Wage revision and Pension Option – Programme of Agitation::: 1. Lunch Hour demonstrations in all centres on 15th and 23rd September.2. Signature campaign (memorandum addressed to Finance Minister) to complete by 23rdSeptember.;3. No late sitting in offices and no work on Saturdays, Sundays and Holidays w.e.f. 23rd September, 2015;4. Joint Employees meetings in all offices to campaign;5. Perspective of strike actions in October ""......"23RD JULY IS NEW INDIA'S FOUNDATION DAY(23RD JULY, 1919). ON THIS HAPPY OCCASSION, LET ALL NEW INDIANS TO RE-DEDICATE THEMSELVES ONCE AGAIN TO BRING BACK IT'S GLORY AND TO RETAIN NO.1 POSITION WITH PROFITS




""NEW INDIA ASSURANCE BEATS COMPETITION, GETS $9.5 BILLION AIR INDIA DEAL. One of India’s biggest public sector general insurer, New India Assurance (NIA) led consortium of public sector insurance companies has been awarded the contract to insure Air India’s huge fleet of 126 aircrafts worth 9.5 billion dollars. The consortium outbid the tender submitted by private general insurance companies, for this contract floated by Air India. NIA will insure Air India for 9.5 billion insurance cover for a premium of $22.5 million, which would be a one of the biggest aircraft insurance deals in the whole of Southeast Asia. PSU insurers continue to insure Air India for 4th year in a row"".....""Thank u all for staging a successful DHARNA today (06.7.2015) all over India as part of JFTU programme. At Mumbai we met Chairman GIPSA who informed that ministry is insisting on wage settlement on bank line only. Still they are pursuing with the ministry for getting sanction for a better package for PSGI Companies citing various factors. Due to this GIPSA is delaying resumption of wage negotiation. More stringent TU action is needed by JFTU against Ministry of Finance stand. JFTU will decide its further programme....Than 'Q'...Sujit Bagchi,General Secretary, "NFGIE""...""


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Thursday, February 9, 2017

Union Budget 2017: Insurance industry hails decision to hike coverage under PMFBY

The general insurance industry today hailed the Union Budget and welcomed the government’s decision to increase the coverage under the Pradhan Mantri Fasal Bima Yojana from 30 per cent to 40 per cent in 2017-18 and 50 per cent in 2018-19.
The government has increased its spending on PMFBY to Rs 13,240 crore, which the industry believes will help bring more farmers under the insurance cover.
“Indian farmers need risk mitigation mechanism in the form of insurance and PMFBY will compensate them whenever they suffer crop loss during natural disasters,” New India Assurance CMD G Srinivasan said.
New India has underwritten premium of Rs 1,100 crore under the scheme in the current fiscal so far and it plans to increase it to Rs 2,000 crore in the next financial year.
“The increase in insurance cover under PMFBY will result in increase in premium by 15-20 per cent by the industry in the next fiscal,” National Insurance chairman and managing director, Sanath Kumar said.
ICICI Lombard MD & CEO, Bhargav Dasgupta said, “This government has done more to promote insurance as a risk mitigation tool and the decision to increase the coverage under the Pradhan Mantri Fasal Bima Yojana to cover 40 per cent of crop area is a continuation of that approach.
“The budget aims at continuing with the government’s agenda of pursuing an inclusive and long-term development of the economy by focusing on the core enablers, including infrastructure, digitisation, rural development, among others. New initiatives, such as a proposed model on contract farming are a welcome move,” he said.
“With a view to boost the agricultural sector, the government has increased the coverage under the Pradhan Mantri Fasal Bima Yojana from 30 per cent to 40 per cent in 2017-18 and 50 per cent in 2018-19 which will help farmers get insured,” M Ravichandran, President – Insurance, Tata AIG General Insurance said.
Farmers will also benefit further with the government spending Rs 13,240 crore in fiscal 18 on crop insurance, he added.
Swiss Re, which has recently opened its India branch, believes that it’s a positive move to close the protection gap in agriculture
“Increasing allocations for Fasal Bima Yojana and targeting greater insurance coverage is a positive move to close the protection gap in agriculture,” Swiss Re India branch chief executive Kalpana Sampat said.
“A robust crop insurance framework is an important stepping stone towards food security and financial stability for farmers,” she added.

70 new general insurance products in FY17

In the current financial year, about 70 new products, including add-ons, have been launched in the general insurance segment, according to the Insurance Regulatory and Development Authority of India (Irdai). While several products were add-ons to the existing policies, most new policies were in crop insurance and motor insurance.
According to senior officials, general insurance sector have already received Rs 10,000-12,000 crore from crop insurance and premiums is likely to touch Rs 18,000-20,000 crore by the end of current financial year. “In the first year itself, industry is expecting to get Rs 20,000 crore through crop insurance and premiums are likely to grow in the coming year. It’s one of the new segment that general insurance industry is focusing on,” said CEO of a private general insurance company.
According to the regulator, even long-term two wheeler policies were filed by various insurers. Industry experts claim that this segment has seen premium in the range of Rs 300-500 crore.

HomeMoney Insurance Regulatory and Development Authority of India proposes outsourcing norms for insurers Insurance Regulatory and Development Authority of India proposes outsourcing norms for insurers

In order to ensure that insurers follow prudent practices for management of risks arising out of outsourcing, Insurance Regulatory and Development Authority of India (Irdai) has proposed new norms.
Insurers cannot outsource activities such as investment and related functions, fund management including NAV calculations, compliance with AML and KYC, product designing, decision making in underwriting and claims functions and policyholders’ grievances redressal.
Policy servicing will be the core activity for the insurer, who will be responsible for the services rendered. However, the activities that support policyholder servicing can be outsourced at the discretion of the insurer.
Where collection of premiums is outsourced, insurers will have to put in place procedures for issuance of premium acknowledgements instantaneously to policyholders on collection of premiums
Board of directors will put in place an outsourcing policy to cover the frame-work for assessment of risks involved in outsourcing including confidentiality of data and quality of services.
The board should put in place an annual review of the outsourcing pollicy, keeping in mind changes in internal and external environment impacting the out-sourcing arrangements. It will be respon-sible for degree of due diligence required for other non-core outsourcing activities.
The outsourcing arrangements will be governed by written agreements that are legally binding for a specified period, subject to periodical renewal.
Outsourcing contracts will have clauses on information and asset ownership rights, IT, data security and protection of confidential information.
The contract will have clauses on guarantee or indemnity from outsourcing service provider towards his commitment including liability for any failure.

Insurers will have to ensure that the outsourcing service provider’s security policies, procedures and controls will enable it to protect confidentiality and security of policyholder’s information.

Tuesday, February 2, 2016



Promotion Policy for Supervisory, Clerical & Subordinate Staff

To,

The Principal Office Bearers of Check-off qualified Class III/IV Unions / Associations of GIPSA Companies,

Dear Sir,

Please refer to our discussions in the past on the captioned subject when it was envisaged to hold discussions on review of the Promotion Policy for Supervisory, Clerical & Subordinate Staff, as suggested by some of the Unions / Associations, immediately after the Wage Revision exercise is concluded.

With the issuance of Notifications for Wage Revision, the Wage Revision Exercise is substantially coming to a close and accordingly, it is proposed to hold discussions with the Check-off qualified Unions / Associations of Class III/IV employees of GIPSA Companies on the subject.  However, for a meaningful dialogue, it would be better if you could kindly let us have a list of your suggestions for improvement in the Promotion Policy for Supervisory, Clerical & Subordinate Staff, alongwith justification thereof before we hold the dialogue.

We expect your suggestions to reach us latest by Monday, the 8th February, 2016, where after, we would convey to you the schedule for our discussions thereon.

Thanking you and looking forward to your continued co-operation, 

Regards,

A.K. Singhal
Adviser,
General Insurers' (Public Sector) Association of India
Ground Floor, Gate No. 2, Jeevan Tara Building,
Parliament Street, New Delhi-110001
Tel. No. 011-23744591, Fax No. 23744599
Mob. No. 83350-80094 & 93503-55005

Monday, January 25, 2016

Dear All members

Hearty Congratulations for the successful notification of Wage Revision.

This was possible due to the persistent process of meaningful negotiations with GIPSA  by our parent body NFGIE, Mumbai and our efforts for finalisation of same. We express our sincere thanks to each and every member for the whole-hearted support and co-operation extended during the struggle and trade-union agitation programmes.

We achieved our long awaited Wage Revision Notification with good satisfaction.
Final Offer of 13.5% offered at Hyderabad on 4th Nov.15 is modified with 15% which is adjusted in Scales.

A gist of the Wage revision effective from 1st August, 2012 is given herein below:

n  The revised FPA (Fixed Personal Allowance) shall reckon as Basic Pay for the purpose of HRA,PF, Pension, Gratuity, Encashment of EL

n  Increased HRA/CCA with Maximum limits

n  Small increase in FPA

n  Functional Allowances like Cashier,  Key handling allowances increased as:
          Cashier : Rs.1500/- pm
          Key handling/Carrying Cash- RS.700/- w.e.f 1.8.12

n  No change in granting of stagnation increments to Assistant/Sr.Asst. ie once in 2 years and once 3 years respectively, though NFGIE demanded for running scales.

n  Stagnation increments for scale I – Maximum 3 once in 3 years.

n  Stagnation  increments in Scale II -5 Maximum-once in 3 years

n  Scale III- Maximum 2 Stagnation increments                          


n  NFGIE demanded for providing Lunch Coupon.  Mr.A K  Singhal informed our NFGIE Leaders at Madurai that the decision on Lunch Coupon will take some more time.

n  After merging DA on 1.08.12- The present DA Slabs are available as on Jan 2016 is 330-  For calculation of slab apply rate 0.10% on basic pay.

n  Development officers cost ratio norms increased and  classified into population/centre wise as against earlier 2 :

         1. Cities with population exceeding 25 lacs -   8%
         2. 10 lacs and not exceeding 25 lacs            -   9%
         3. Other centres                                             -  10%

             Hardship area further relaxation 1%
        Attained the age of  55 years and completed minimum period of 15 years  –       further relaxed 2%  

n  Employees and officers recruited between 1.1.2004 & 31.3.2010 are also now covered under GI Pension scheme 1995.

NPS effective date from 1.4.2010

The Gazette copy is available in MAIL.

“Dear all,  we should say thanks to our National Federation Leaders like Mr.T K Sathish Kumar, Ernakulam, Mr.Sujit Bagchi, Kolkota for taking lots of pain to travel entire country when ever GIPSA conducted meetings on Wages.  Due to our senior/strong leaders hard work and planning we are getting this fruitful wage revision to all classes of employees”.

Also, we should express our sincere thanks to our Delhi Leaders Mr. O P Rajodia , Mr. Murari Singh Prasad, Mr. V K Tandon for regular follow-up with GIPSA and day-to-day updates, because due to such leaders only NFGIE is the first and only Union that has given authentic and live communication directly from ministry.

For getting the latest information, our state  own person and NFGIE General Secretary Mr. P S Bajpai has played very crucial role and NFGIE we are sure will scale greater heights in future under his able & dynamic leadership.

Last but not the least, my sincere thanks to my Hyderabad and Vizag RO Office Bearers for making all arrangements viz., accommodation,  pickup and dropping National Federation Leaders to attend meetings at Hyderabad   as 1st round and final round of Wage Negotiations were conducted at Hyderabad only.                                                                                       
It is our practice that on wage revision we used to collect Levy on Arrears in order to strengthen the financial position of our Union. As you know, ours is the only Union among all GIPSA member-companies  having membership in “all Classes“ with good unity and understanding among all classes of employees. Hence it is quite impossible to serve a sizable membership in both Regions of Hyderabad and Vizag and also to extend financial support to our parent body NFGIE. Thus it is highly difficult without sufficient and sound finance and timely funding to run the day-to-day affairs of the Union/Association. It is possible only through donations and voluntary contributions in kind apart from regular payment of timely subscription and membership fees being done by all our members whole-heartedly.

All those Units/members who are yet to remit their annual membership fees are also requested to clear their old dues/arrears by approaching their respective Unit Secretaries / Representatives for which we shall be thankful to all of you.

NOW WE REQUEST ALL THE MEMBERS TO CONTRIBUTE  LEVY ON WAGE AREAS WITH A MINIMUM OF 2% OF THE NET ARREARS AMOUNT AND SUBJECT TO:

1.CLASS I OFFICERS    -  MAXIMUM RS.5000/-
2.CLASS II OFFICERS  -   MAXIMUM RS.4000/-
3.CLASS III                 -   MAXIMUM RS.3500/-
4.CLASS IV                  -   MAXIMUM RS.2000/-

WE REQUEST ALL THE MEMBERS TO PLEASE CONTIRUBUTE IMMEIDATELY ON  RECEIPT OF ARREARS AS WE HAVE TO SEND THE AMOUNT HO NFGIE TO MEET THEIR EXPENSES.  ALSO YOU ARE WELL AWARE THAT WE ARE NOT COLLECTING ANY AMOUNTS FROM MEMBERS FREQUETNLY AND FOR REGULAR TOURING/VISITS WE REQUIRE FUNDING OF UNION.  PLEASE COLLECT THE AMOUNT AND DEPOSIT IN OUR UNION A/C AS MENTIONED BELOW AND INFORM THE DETAILS TO ENABLE US TO ISSUE RECEIPTS.

A/C NAME:   GIC EMPLOYEES UNION (AP)
A/C NO.700010083078
IFSC- VYSA0007000
ING VYSYS BANK-KOTAK- S P ROAD BRANCH

Yours faithfully
Sd/-XX XX XX XX
(T GOPALA KRISHNA)
GENERAL SECRETARY
GICEU-ANDHRA PRADESH

CC TO Mr.V Gopala Krishnaiah, Regional Secretary,VRO

CC to Sri M Jagannadha Rao,  President,GICEU-AP