""FLASH NEWS""

"" Listing of state general insurers may be staggered.""...""" New India Assurance launches “New India Premier Mediclaim Policy” with exclusive features and Sum Insured upto Rs. 1 crore""".... “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""...""


TOTAL WEB VIEWERS

Sunday, August 21, 2011

New India Assurance gets new CMD

DEAR VIEWERS,
United India Insurance Chief G Srinivasan has taken up the additional charge of Chairman and Managing Director (CMD) of the country's largest PSU general insurance company, New India Assurance.

The appointment follows the suspension order issued by the government to New India Assurance Chairman and Managing Director M Ramadoss over alleged irregularities in the grant of credit insurance cover to a private airline company during his tenure as Oriental Insurance head.
Srinivasan has taken over the additional charge of Mumbai-based New India Assurance from today, sources added. Ramadoss has been put on suspension pending investigation of the allegations against by the CBI, official sources said.
A case is also pending against Ramadoss with anti-corruption watchdog Central Vigilance Commission. Last month, the Central Bureau of Investigation (CBI) raided the residence of Ramadoss in connection with alleged irregularities in the credit insurance cover given to Paramount Airways by Oriental Insurance.
The case pertains to alleged irregularities in the grant of credit insurance amounting to Rs 14-25 crore by Oriental Insurance to Chennai-based Paramount Airways in 2008-09 toward multiple bank guarantees for covering fuel purchases.
Credit insurance, now banned by the Insurance Regulatory and Development Authority, is taken by a company to cover its dues and in case it fails to repay them, banks recover it from the insurance companies. Ramadoss is the second chief of a state-owned insurer to face action this year. In May, 2011, the government removed Life Insurance Corporation (LIC) Chairman T S Vijayan following alleged irregularities in investment decisions taken by the insurer during his tenure. The CBI is looking into the matter.
The CBI has alleged that Ramadoss entered a criminal conspiracy with Paramount officials for providing credit insurance cover to the airline, which was in violation of the existing rules and regulations.
Paramount Airways had taken a loan of about Rs 400 crore loan from five major banks to make payments for fuel to oil companies. However, it allegedly defaulted in repaying the amount. These five banks had subsequently sent claims to Oriental Insurance, which had issued the credit insurance to the airline.
The planes of Paramount Airways were de-registered in 2010, following which they could not operate their flights. (PTI )
.......EDITOR
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