Dear Friends,
We are pleased to inform that National Insurance Company adopted the amended promotion policy within Class I its board meeting 331 vide Ref.HO:Pers:MPL.Dept.F002/2011 dated 17th June, 2001. The board of the company has approved two amendments in the promotion policy for officers with immediate effect for implementation from 2011-12 exercises. These amendments are as under:
We are pleased to inform that National Insurance Company adopted the amended promotion policy within Class I its board meeting 331 vide Ref.HO:Pers:MPL.Dept.F002/2011 dated 17th June, 2001. The board of the company has approved two amendments in the promotion policy for officers with immediate effect for implementation from 2011-12 exercises. These amendments are as under:
1.Extended Eligibility of Officers qualifying in Written Test: In response to representation received from various quarters, the Board has agreed to provide for including an Officer, who has qualified in the written test under promotional process for a particular year, in the promotional process for next two promotional exercises for the set of promotions determined under clause (b)of Para 14.2 of the promotion policy.
2.Fast track Promotions:Not withstanding anything conained in this policy, starting from the promotional exercise for the year 2011-12,for promotion of officers upto scale IV in the company, there shall be, in addition to the already existing channle (to be referred to as the Normal Channel)of promotionsunder thispolicy, another channel of promotions, to be known as "Fast TrackChannel"with the following provisions:
a)20%(fractin 0.5 and above being taken as 1)of vacancies as determined under para 6 of the policy for a financial year for promotionto scale II, Scale III and Scale IV in the company shall be earmarked for being filled up through Fast Tract Channel, the remaining vacancies being available for the Normal Channel
b)To be eligible to participate inthe Fast Track Channel, an Officer should have completed minimum three years of continuous service from the date of selectionto the existingcadre,as on 31st March of the year prescribed for the purpose of para 8.2 from time to time, besides possessing the qualification of;
Associate of Insurance Institute of India or equivalent for promotion to scale-II or Scale- III, and
Fellow of Insurance Institute of India or equivalent for promotion to scale-IV.
Provided however,for the promotional exercise for the years 2011-12 and 2012-13,to beeligible to paricipate in the Fast Tract Channel, an officer should have completed miimum four yearsof continuous serice from the date of selection to the existing cadre, as on 31 March of the year.
d)An Officer eligible to participate inthe Fast Track channel of Promotions and desirous of the same shall have to apply for it against a notice to be published by the company for this purpose.
e)An officer applying for the fast Track channel of promotions ahall be required to appear in the writtentest and secure a minimum of 60 (54 SC/ST)or more marks .
f) Scheme of Weightage:
WrittenTest Scale I to II: 40; Scale II to III: 40; Scale III to IV: 40
Qualification 5 5 Nil
Work Record 40 40 40
Interview 15 15 20
Written Test :Forevery marksecured in the written test, a score of 0.40 in the scheme of weightage shall be alloted. For example, for a score of 60 in the written test,the officer shall be alloted 24 marks out of 40 in the above shcame of weightage.
Scale I&II officers possessing the qualification of Fellow shall be alloted 5 marks
The work record shall be assessed through the annual CRs as per the annual performance
Only two attempts shall be allowed for promotion to a particular cadre under the Fast Tract Channel, which shall be counted within the over all 3 attempts
For more information, please wait for official cirucular of New India, which is being approved by the New India Board meeting.
M. HANUMANTHA RAO T GOPALA KRISHNA President General Secretary
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