""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

Thursday, May 26, 2011

NEWS UPDATION

DEAR FRIENDS/VIEWERS,

As we have been receiving en-number of telephone calls from various quarters, we furnish here under the latest position in respect of 1) Promotions under Para 13.1 & 13.2 (South Zone), 2) Announcing the Senioity Lists for all cadres in Class-1  &  Declaration of promotional vacancies for Class-1 for 2011.

The appex body "NFGIE" is vigourously following up the all these matters with New India Management at HO. Mumbai and  All India  General Secretary, Mr.Vasanth H Khade has just informed the latest position at HO.

1. DECLARATION OF RESULTS UNDER PARA 13.1 & 13.2 SOUTH ZONE:

Actually results are expected to be declared today (26-5-2011) late evening  by the Management. Understood that due to certain technicalities it may take one more day or Two. Believe that the Management  is making every effort to complete the exercise on or before 31st MAY, 2011. Let us be positive, friends.

2. In regard to the seniority lists, are still under updation and taking a final shape at HRM/HO.  The declaration of pomotional vacancies for all cadres with in the Class-1, will take place simultaneously on completion of seniority list by 01st June, 2011.  

This is for your information.

With Warm Greetings,

......EDITOR

Wednesday, May 25, 2011

PROMOTION RESULTS FROM CLASS-3 TO CLASS-1:: FOR SOUTH ZONE

Dear Friends,
We learnt from the reliable sources that the long awaited results in respect of promotions from Class-3 cadre to Class-1 (para 13.1 & 13.2) are being announced late evening of today or early hours of 26-05-2011 by New India Management.
Also undestand that all the promoted candidates are to be reported likely on or or before 31-05-2011 at the place of posting given to them and understand that seniority will be protected.
Awaiting further detailed cirular in this regard, for more clarity  /confirmation from the management. 

In advance GICEU-AP, Congratulating all the promotee colleague friends, and Wishing all the Best and every success in their new assignments in the promoted cadre.

WITH WARM GREETINGS,
M. HANUMANTHA RAO                T. GOPALAKRISHNA
        PRESIDENT                          GENERAL SECRETARY

Tuesday, May 17, 2011

Primer: Tax saving with 80C

Dear Viwers,

To encourage savings, the government gives tax breaks on certain financial products under Section 80C of the Income Tax Act. The section helps you save taxes on investments up to 1 lakh - if you are in the highest tax bracket of 30%, you can save Rs 30,000 in taxes. Here are the options available under the section:

PF & VPF: Provident Fund (PF) is deducted from your salary. Your employer also contributes to it. While the employer's contribution is exempt from tax, your contribution is counted as investment under Section 80C. You can also contribute additional amounts to Voluntary PF (VPF). The EPFO has announced a 9.5% rate of return on deposits for 2010-2011. Also, the interest earned on the investments is tax-free.

Public Provident Fund (PPF): A PPF account can be opened with a nationalised bank or a post office. The rate of interest earned is 8%, which is tax-free, and the maturity period is 15 years. The minimum required contribution is Rs 500 per year and the maximum allowed is Rs 70,000.

.....EDITOR

GOVT. ALLOWS TAX EXEMPTION ON 9.5% INTEREST ON PROVIDENT FUND FOR 2010-11

DEAR VIEWRS,

Giving relief to 4.71 crore subscribers of EPFO, the government has allowed tax exemption on the 9.5% interest income on PF deposits for 2010-11. The finance ministry notification last week raises the income tax exemption to 9.5% interest income from 8.5%. The decision clears the air for the EPFO's subscribers who were given increased interest rate by one percentage point for 2010-11, but the finance ministry had not matched the interest hike with a commensurate tax exemption.

In the absence of the commensurate income tax exemption, the subscribers were earning higher returns even as it was liable to income tax.

EPFO had decided to provide 9.5% interest rate on PF deposits for 2010-11 after which it was endorsed by the finance ministry in March this year.

In 2001, finance ministry had allowed tax exemption on interest income of up to 12% on PF deposits. This exemption prevailed till August 31,2010.

In August last year, finance ministry had notified tax exemption of upto 8.5% tax on interest income on PF deposits from September 1, 2010, onwards which now stands superseded.

EPFO had decided to pay 9.5% rate of return for 2010-11 after it found a surplus of Rs 1,731 crore. But the rate was stagnant at 8.5% for five years since 2005-06.

EPFO had also maintained interest rate of 9.5% for three consecutive fiscals from 2002-03. The rate of return was 11 and 11.25 percent in 2000-01 and 2001-02 respectively.

The interest income was even higher at 12% 10 years during 1989-90 to 1999-2000.

..... EDITOR

Sunday, May 15, 2011

CORPORATE NEWS UPDATES

DEAR FRIENDS,

WE ARE PLEASED TO FURNISH HERE THE FOLLOWING INFORMATION,  RECEIVED FROM OUR APEX BODY NATIONAL FEDERATION, MUMBAI FOR FAVOUR OF ALL CONCERNED, WHICH WAS ALREADY SENT THROUGH "SMS" AND / OR TELEPHONICALLY TO ALL UNIT IN-CHARGES.

1) Leave Travel Subsidy Eligibility has been increased from 2000 Kms each way to 3000 Kms by New India Board, with effect from 11th May, 2011. The employees  who have not availed LTS blocks as per present eligibility, may avail now.
2) The New India Management has duly appoved the long awaited conversion of all Part Time Sweepers to Full Time Sweepers.
3) The written examination in respect of promotions with in the Class-I cadres (Scale -I to II to III to IV to V) will be likely held on 19th/26th June, 2011 at all Metro centres. Exact date will be known only after finalisation of scalewise seniority list by HRM/HO and declaration of vacancies for class-1 cadres for the current year promotional exercise.
4) Further,it is understood that promotions in respet of Class-II (Development Officers) i.e. from Grade-II to Grade-I; Enhancement of Leave encashment period on retirement ( 240 days to 300 days); Enhancement of Vehicle Loan to Class-III & IV employees (from Rs.25,000/- to Rs.50,000/-) and other non-core benefit matters will likely come up in the ensuing Board meetings of New India.
With warm Greetings,
Yours-in-service,
                   M. HANUMANTHA RAO       T. GOPALA KRISHNA
                        PRESIDENT                GENERAL SECRETARY

Retirement Age to 62 - Central Cabinet Sub Committee likely to Approve

DEAR FRIENDS,

 

Retirement Age of Central Government Employees.


 

The retirement age of Central Government employees is likely to raise to 62 years.

The decision in this regard may be taken by the Central Cabinet Sub Committee this week.

More News will follow..
Posted by bINu Friday, May 6, 2011
.... EDITOR

Friday, May 6, 2011

"" Just a thought for the National Anthem ''"

Dear Viewers/ Friends,

Someone needs to check this out

'Jana Gana Mana' - Just a thought for the National Anthem! How well do you know it?

Our national anthem, 'Jana Gana Mana', is sung throughout the country. Did you know the following about it? I didn't. I have always wondered who is the 'Adhinayak'and 'Bharat Bhagya Vidhata', whose praise we are singing.

I have always thought it might be To begin with, Jana Gana Mana, was written by Rabindranath Tagore in honor of King George V and the Queen of England when they visited India in 1919.

To honour their visit, Pandit Motilal Nehru had five stanzas included that are in praise of the King and Queen. (And most of us think it is in praise of our great motherland.)

In the original Bengali verses only those provinces that were under British rule, i.e., Punjab, Sindh, Gujarat , Maratha, were mentioned. None of the princely states, which are integral parts of India now, such as Kashmir, Rajasthan, Andhra, Mysore and Kerala, were recognized.

Neither the Indian Ocean nor the Arabian Sea were included because they were directly under Portuguese rule at that time. Jana Gana Mana implies that King George V is the lord of the masses and Bharata Bhagya Vidhata, or 'the bestower of good fortune'.

Here is a translation of the five stanzas that glorify the King.

Stanza 1: The (Indian) people wake up remembering your good name and ask for your blessings and they sing your glories (Tava shubha name jaage; tava shubha aashish maage, gaaye tava jaya gaatha)

Stanza 2: Around your throne, people of all religions come and give their love and anxiously wait to hear your kind words.

Stanza 3: Praise to the King for being the charioteer, for leading the ancient travellers beyond misery.

Stanza 4: Drowned in deep ignorance and suffering, this poverty stricken, unconscious country? Waiting for the wink of your eye and our mother's (the Queen's) true protection.

Stanza 5: In your compassionate plans, the sleeping Bharat (India) will wake up. We bow down to your feet, O Queen, and glory to Rajeshwara (the King).

This whole poem does not indicate any love for the Motherland, but depicts a bleak picture of it. When you sing Jana Gana Mana, whom are you glorifying? Certainly not the Motherland. Is it God? The poem does not indicate that. It is time now to understand the original purpose and the implication of this, rather than blindly sing as has been done the past 60 years.

May be we should shift to Vande Mataram or Saare Jahan Se Achcha, which are far better compositions in praise of India.

Please don't break the chain -- let's see how many people get to know about this.

> BE PROUD TO BE AN INDIAN   >  BHARAT MAA KI JAI HO !

....... EDITOR

Monday, May 2, 2011

NEW INDIA WILLING TO SACRIFICE TOP LINE GROWTH FOR PROFITABILITY

Dear Viewers,
BUSINESS LINE PUBLISHED NEW INDIA CMD'S INTERVIEW - PLEASE READ AND INFORM OTHERS
 Expects 35% growth in premium income in 2010-11


Chennai, April 25:

New India Assurance expects its profitability in 2010-11 to take a hit due to provisioning for losses from motor pool, wages and pension contributions. The company posted a net loss of Rs 90 crore for the nine months ending December 31, 2010.

Mr M. Ramadoss, Chairman and Managing Director, New India Assurance, told Business Line, that provisioning for pension contribution is estimated at Rs 500 crore and another Rs 600 crore would have to be set aside to absorb the losses from motor pool.

The premiums for third party motor insurance on cars, trucks and buses were recently hiked by the insurance regulator. Premiums were raised in relation to claims of vehicles.

Premiums on cars were increased by 10 per cent, for trucks and buses they went up by 70 per cent. A minimum hike of 80 per cent on premium for trucks is being sought . Even this he felt was inadequate to absorb the losses arising from claims of third party on motor accidents.

Mr Ramadoss pointed out that insurers had to make nearly 153 per cent provisioning to cover the losses from motor third party. Public insurers have to bear greater share of third party losses because they insure 60 per cent of the market. (The motor pool losses are apportioned to various companies in proportion to their market share in the non-life insurance business.)

Premium Income

New India Assurance expects to close financial year 2010-11 with a premium income of about Rs 8,250 crore, reporting a growth of 35 per cent from the previous year. It is the largest insurance company in terms of premium income. New India Assurance is willing to sacrifice top-line (premium income) to grow its profitability.

The loss ratio in insuring companies for various risks (group insurance) is high. Therefore the public insurer has made a conscious decision to reduce its exposure to this segment.

Therefore New India Assurance is focusing on growing its premium income from insuring the valuables and health of individuals than corporates.

High-claims

We decline to renew group insurance where the claims ratio is high,” he said. With insurers free to fix the premiums, they are undercutting themselves to offer the lowest premium to cover various risks of companies.

Mr Ramadoss, said, “Providing group insurance is not business but donation”. For every Re 1 earned as premium, the insurer paid out about Rs 1.20 or more as claims.

Nearly 15 per cent of the Rs 6,042 crore premium incomes in 2009-10 for the public insurer came from its overseas operations. Mr Ramadoss said it is more profitable to underwrite risk outside India.

....... EDITOR

Sunday, May 1, 2011

NEWS UPDATE - "FLASH" "FLSAH"

All members/viewers,
PARA 13.2 -SOUTH ZONE
As per Chennai High Court directives, the HO Management has decided to call 14 candidates of Reserved Category employees for interview under 13.2(South Zone)will be conducted at Chennai on 16th May'11.  Hope management will release the final list  within two weeks after the interview process completed.

DA increased by 19 slabs w.e.f 1st May'11.

HRMS  IN CWISS (PORTAL)::
Employees can view their personal data like PF Balance/Outstanding Loan/Gratuity/Nomination/MBS/LTS etc through HRMS longin CWISS(Portal). At present all category employees given (including Sub-staff/RC/FTS ) User ID as their SRNO. and pass word is nia1234.

PTS TO FTS::
HO management released circular for up gradation of all Part-time sweepers as Full-Time sweepers for which collecting data from BO/DO where PTS are working. Please see that all the information should be submitted to concerned Regional Offices without any negative factors.

INCREASE IN LTS DISTANCE FROM 2000 Kms TO 3000 Kms:
We came to understand that United India Insurance Co. has issued circular in regard to the LTS by enhancing the kms. from 2000 to 3000 each way. Hope our NIA management may approve the same in next board meeting tentatively 11th May'11 as per our NFGIE GS message.

PROMOTIONAL INTERVIEWS WITH IN CLASS-1 FOR  2011:
Also,please note that the Officers in Chief Manager and above cadres, interviews will be held on 22nd May'11.

NEW OFFICE BEARERS FOR NFGIE AT MUBAI:
Our parent body NFGIE reconstituted its BGC meeting held at Hyderabad on 2nd and 3rd April'2011 under aegis of GICEU-AP for which around 150 delegates were attended from all India. Mr. Vasanth H Khade of HO Mumbai has unanimously elected as General Secretary and Mr.T K Satish, Ernakulam as Working President.

         M.Hanumantha Rao            P S Bajpai               T Gopala Krishna
                    PRESIDENT               W.PRESIDENT     GENERAL SECRETARY