Online Payment of Loan & Claim to the Policy holders
GOVERNMENT OF ANDHRA PRADESH
Establishment – A.P.G.L.I. Department – Acceptance of recommendation of the Committee with regard to Online Payment of Loan & Claim to the Policy holders of A.P.G.L.I. Fund – Orders - Issued – Regarding.
FINANCE (ADMN.II) DEPARTMENT: G.O.Rt.No. 2931 Date:10.07.2013.
Read the following:
1. G.O.Ms.No. 83 Finance (Admn.II) Department, dated 07-01-2013.
2. Submission of Report of the Committee on simplification of Procedures in the Directorate of Insurance, dated 27-02-2013.
3. Le.No.01/General-I/2012-13-3, Director of Insurance, A.P., Hyderabad. Dated:21.03.2013 & 18.06.2013.
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O R D E R:In the reference 1st cited, the Government have constituted a Committee to study the possibilities of simplification of procedures and efficient functioning of the Department to render quick service to the Policy holders.
2. In the reference 2nd cited, the Committee has submitted a report to the Government, wherein it was recommended for Online Payment of Loans & Claims in place of existing procedure of issuing Cheques / Bank Drafts.
3. In the reference 3rd cited, the Director of Insurance has stated that the Committee in its report has recommended to make On-line Payment, the Department contacted the State Bank of Hyderabad, who suggested to open a zero balance current Account for transfer of amounts to the individual accounts of Policy Holders on settlement of claims and sanction of Loans and also stated that this procedure is also being followed in Pay & Accounts Office, Hyderabad towards crediting of salaries of employees of Twin Cities. Further, he has informed that this process was implemented for certain transactions by NEFT as per procedure shown by the State Bank of Hyderabad in District Insurance Office, Hyderabad on trial and check basis which was proved successful and gave good results.
4. Further, he has requested the Government to accord permission to implement Online Payments of Loan & Claim to the Policy Holders in accordance with the procedure laid down by the Banks where the Letter of Credit Accounts are being operated by the concerned District Insurance Offices.
5. After careful examination of the matter, Government hereby accord permission to the Director of Insurance to undertake Online Payments of Loans & Claims to the Policy Holders in accordance with the procedure laid down by the Banks where the Letter of Credit accounts are being operated by concerned District Insurance Offices. The respective Branch Managers of State Bank of Hyderabad / State Bank of India are requested to co-operate and do the needful for making Online Payments.