( a monthly e - magazine of lic retired class i officers ... · 10/11/2016 · excerpts from gn...

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Private Circulation for LIC Pensioners only

( A monthly e - Magazine of LIC Retired Class I Officers’ Association, Kolkata )

November, 2016 ( Year - 2013 : 2 Issues, Year – 2014 & 2015 @ 12 Issues), Year - 2016 : 11th

Issue

Chief Editor :

Basudeb Das

Editorial Board : Dilip Kr Ghosh

Subir Kr Mazumder

Amar Kr Goswami

Subrata Kr Ghosh

IN THIS ISSUE:

Editorial………………...1

Legal News…………….2

Members News……..9

Assocn News…...….10

News in brief……..…11

Financial News….…14

Of Interest…….........18

Quiz……………………..21

Photography……..….21

Inspirational Quote.22

Spiritual lesson…..…22

Jokes.……………..….…22

Health Tips……...……23

Readers’ Views…..…24

Price index …….………25

Editorial Note….…...25

EDITORIAL A journey with commitment towards excellence

The Governing Body of LIC RETIRED CLASS-I OFFICERS’ ASSOCIATION, Kolkata for the

year 2013-14 took over in August’2013. The first meeting of the Governing Body gave a

direction to the office-bearers and the other activists to think with innovation and act

positively in carrying forward the organization towards fulfillment of the logical

aspirations of the retired Class-I officers of LIC.

During every Wednesday meet, the assembled members discussed on the functioning

of the Association and were unanimous on the need for an active and vibrant

organization for the pensioners. During the discussions, it was felt that we must be

made known outside the periphery of Kolkata and our identity with independent

thoughts must be familiar with the retired LIC officers and employees throughout

India. It was, also, felt that we could not afford to remain a passive onlookers any

more. There the idea of bringing out one House Magazine developed. It was later

decided that the proposed house magazine would be an e-magazine so as to reach all

the retired LIC officers and employees in no time and it would be of monthly mode

bearing the name EASTERN NEWS. Sri Basudeb Das was requested to carry the mantle

with a small team of members to assist him. The second meeting of the Governing

Body on 15th

November’2013 approved the plan and appointed the editorial board.

The Inaugural issue was published and uploaded on 15th

November’2013 by Late

Arobinda Ghosh, the then President of the Association. He expressed his happiness

and satisfaction to have witnessed such an event. He blessed the team to move

forward with a mission.

Today the thirty seventh issue is reaching your eyes. Completion of three years in one

human being’s life is not that significant but uninterrupted publication of EASTERN

NEWS for three years with intention to move forward for years to come with the

blessings of more than 1500 recipients is definitely a matter of pride for our beloved

organization.

During the last three years, we have tried to project the problems of the retired LIC

employees and officers. Also, we have discussed many organizational aspects and

issues, in our editorial, which were not liked by some for reasons of their

conveniences. But we are firm in our commitment of serving the causes of the Retired

and not at the services of some individuals.

LONG LIVE EASTERN NEWS

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LEGAL NEWS :

PETITIONERS’ ARGUMENTS ON RULE 3A STARTED ON 17.10.2016 AND

CONTINUED FOR ALMOST TWO HOURS BY COUNSELS OF ALL PETITIONERS

STARTING WITH ADVOCATE NIDHESH GUPTA. NEXT DATE OF HEARING IS

30.11.2016.

Excerpts from GN Sridharan’s e-circular dtd. 16.10.2016 :

“What is happening for Bank pensioners :

In the context of the usual expectations on the Delhi HC tomorrow, (16/10) it is felt relevant to share

the information we have on Bank pensioners as follows.

1. The batch of appeals relating to 100 p.c. neutralisation for bank pensioners who had retired prior to

1/11/2002 will be heard by Supreme court only on 17/1/2017.

2. In a recent judgement dt.26/9/2016 a Division bench of Kolkata HC has upheld the plea for 100 p.c

DR neutralisation for pensioners of United Bank of india in W P 507/2012. My sources indicate that

UoI will challenge this also in supreme court.

In this background we should expect the Govt's approch will be only to dilly Dally on our matters to

delay any final verdict by Delhi HC.”

DELHI HC ORDER DT 17.10.2016

$~ 24 to 26 and 30 to 35

* IN THE HIGH COURT OF DELHI AT NEW DELHI

+ W.P.(C) 9440/2016 LIFE INSURANCE CORPORATION OF INDIA ..... Petitioner

Through Mr. Tushar Mehta, ASG with Mr.

Dayan Krishnan, Sr. Advocate, Mr. Ashok

Panigrahi and Mr. Surajit Bhaduri, Advocates.

versus

KRISHNA MURARI LAL ASTHANA & ORS ..... Respondent

Through

W.P.(C) 9441/2016

KRISHNA MURARI LAL ASTHANA & ORS ..... Petitioner

Through

versus

LIFE INSURANCE CORPORATION OF INDIA & ANR

..... Respondent




W.P.(C) 9442/2016

LIFE INSURANCE CORPORATION OF INDIA & ORS..Petitioner




versus

KRISHNA MURARI LAL ASTHANA & ANR ..... Respondent

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Through

W.P.(C) 184/2007

FEDERATION OF RETIRED LIC CLASS I OFFICER..... Petitioner

Through

versus

UOI & ORS. ..... Respondent

Mr. Tushar Mehta, ASG with Mr. Dayan

Krishnan, Sr. Advocate, Mr. Ashok Panigrahi and

Mr. Surajit Bhaduri, Advocates.

Ms. Abha Malhotra, Advocate for UOI.

W.P.(C) 3983/2016

MADAN LAL GANDHI AND ORS ..... Petitioner

Through Ms. Renuka Sahu, Advocate.

versus

UNION OF INDIA AND ORS ..... Respondent

Through Ms. Abha Malhotra, Advocate for

UOI.

Mr. Tushar Mehta, ASG with Mr. Dayan

Krishnan, Sr. Advocate, Mr. Ashok Panigrahi and

Mr. Surajit Bhaduri, Advocates.

W.P.(C) 3984/2016

KRISHNA MURARI LAL ASTHANA ..... Petitioner

Through Mr. Kumar Gaurav, Advocate.

versus





W.P.(C) 4894/2016

RETIRED LIC CLASS I OFFICERS ASSOCIATION

HYDERABAD ..... Petitioner

Through Mr. Gourab Banerji, Sr. Advocate

with Mr. Saurav Agrawal, Mr. Ashish Tiwari and

Mr. M. Sreenivas Murthy, Advocates.

versus

LIFE INSURANCE CORPORATION OF INDIA AND ANR

..... Respondent




Mr. Vivek Goyal, Advocate for UOI.

W.P.(C) 5868/2016

ALL INDIA INSURANCE PENSIONERS ASSOCIATION AND

ORS ..... Petitioner

Through Mr. Nag Mohan Dass, Sr. Advocate

with Mr. Som Dutt Sharma, Advocate.

versus





Mr. Dev P. Bhardwaj, CGSC.

W.P.(C) 5903/2016

ALL INDIA RETIRED INSURANCE EMPLOYEES FEDERATION

..... Petitioner

Through Mr. Nidhesh Gupta, Sr. Advocate

with Mr. R.K. Singh and Mr. B.N. Dubey,

Advocates.

versus

LIFE INSURANCE CORPORATION OF INDIA & ANR

... Respondent




Mr. Bhagvan Swarup Shukla, CGSC.

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CORAM:

HON'BLE MR. JUSTICE SANJIV KHANNA

HON'BLE MS. JUSTICE SUNITA GUPTA

O R D E R

% 17.10.2016

Arguments heard on the compliance of the directions given by

the Supreme Court in paragraph 27 of their order dated 31st March,

2016.

Order reserved.

List the writ petitions for hearing on 30th November, 2016.

SANJIV KHANNA, J. SUNITA GUPTA, J.

OCTOBER 17, 2016

NA

DUE TO MISMATCH OF WHAT WAS PREDICTED THROUGH DIFFERENT BLOGS FOR 17TH

HEARING AND WHAT

ACTUALLY TOOK PLACE IN THE COURT ROOM CONFUSED SOME QUARTERS WHO STARTED ALMOST ACCUSING

JUSTICE KHANNA. IT WAS FOLLOWED BY SO MANY UNFORTUNATE COMMENTS WHICH WAS NOT AT ALL

PROPER. AS AN EYE WITNESS IN THE COURT, I CAN ASSURE THAT JUSTICE KHANNA TOOK RIGHT STEPS TO

RESTRICT ARGUMENTS OF PETITIONERS ONLY ON RULE 3A AS PER SC ORDER. COUNSELLORS GOING BEYOND

THE FORMAT WAS INTERFERED BY JUSTICE KHANNA AND HIS BODY LANGUAGE WAS CORDIAL TO UNDERSTAND

THE IMPLICATIONS. AT ONE POINT, HE TOLD NOT TO GET AFRAID OF ANYTHING AS HE IS NOT GOING TO

DICTATE JUDGEMENT. HE IS JUST TRYING TO UNDERSTAND THE IMPLICATIONS. HE CLEARLY OPINED THAT SINCE

PENSION BASIC OF PRE 1997 CANNOT BE REVIVED AS THERE IS NO SCOPE IN SC ORDER, IT SHOULD BE

PROTECTED FROM INFLATIONARY EROSION OF VALUE AND TO EXPLAIN IT, HE CITED EXAMPLE 2/3 TIMES OF BP

5000 AND COMPENSATION ON IT FOR INFLATIONARY LOSS TO PROTECT LIVING OF THE PENSIONERS. WE,

THEREFORE, ARE NOT TO BE FRUSTRATED BUT TO WAIT AND SEE. TILL NOW, NOTHING GOT LOST……..EDITOR

IN THE HIGH COURT OF DELHI AT NEW DELHI

W.P.(C) 1875/2013

FEDERATION OF STATE BANK OF INDIA AND ORS … … Petitioner Through : Mr. Vidya Sagar and

Mr. Debesh Panda, Advocates.

versus

THE UNION OF INDIA AND ORS … … … … … … Respondent

Through : Mr. Shreya Sinha and

Mr. Kavindra Gill, Advocates for R-1.

Mr. Rajiv Kapur, Advocate for R-3 & 4.

CORAM :

HON'BLE MR. JUSTICE SANJIV KHANNA

HON'BLE MS. JUSTICE SUNITA GUPTA

O R D E R

14.09.2016

Counsel for the parties have obtained instructions and state that they have no

objection to this Bench hearing the writ petition. It is not possible to take up the

matter for hearing today as 13th September, 2016 was declared holiday and the

matters relating to 13th September, 2016 are also listed today.

Counsel for the petitioner states that there has been non-compliance of the

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interim orders. Counsel for the respondents disputes the said version and submits

that they have filed the necessary documents. The issue is left open, and if required

would be examined on the next date.

Relist on 8th November, 2016 at the end of the board.

SANJIV KHANNA, J., SUNITA GUPTA, J.

SEPTEMBER 14, 2016

A few pensioners have sent me mails requiring court cases related to pensioners. Pl find some cases

listed below sourced from AICBRF…..M.Perumal, CB-Pensioner, Chennai

BRIEF NOTE ON BANK’S COURT CASES:

SUPREME COURT:

1. In the Civil Appeal No.1942/2009 Bank of India Vs K.Mohandas, Supreme Court has awarded

landmark judgement of 5 Years notional weightage to SVRS – Pension optees. While many Public

Sector Banks implemented the above judgement of apex court, the same has not yet been

implemented in Vijaya Bank & Associated Banks of SBI.

2. In the Civil Appeal No.6013/2011 Sheelkumar Jain Vs New India Assurance Co. Ltd., the Supreme

Court delivered judgement in favour of the resignee through beneficial interpretation of Pension

Regulations.

3. In the WP (C) 184/2011 Federation of All India SBI Pensioners’ Association Vs Union of India, the

Federation has prayed for updation of pension to SBI pensioners in line with periodical upward wage

revisions of serving employees.

4. In the Civil Appeal No.2739/2007 Uco Bank Vs Rajinderlal Kapoor, the Apex Court has held that

issuing Chargesheet to bank pensioners after retirement on superannuation is illegal.

5. In the WP (C) No.184/2011 - Federation of All India SBI Pensioners’ Associations Vs Union of India

admitted by the Supreme Court, the Federation has prayed that:

Pension should be paid as per Pension Fund Rules calculated at 1/60th of last average 12 months pay

reckoning pension service upto a maximum of 30 years without omitting any pensionable service

rendered.

HIGH COURTS:

1. In the Writ Appeal No.1209/2007 G.Palani & Others Vs Bank of Baroda, Madras High Court

delivered judgement in favour of the Pensioners granting payment of Arrears of Pension &

Commutation to those retired between 01-04-1998 and 30-04-2005. However, Bank of Baroda

management has preferred appeal through Special Leave Petition before the Supreme Court.

2. In WP (C) No.27929/2003 T.RVijayan Vs State Bank of India, Kerala High Court awarded the

judgement in favour of pensioner granting 100% Neutralisation of Dearness Relief.

3. In WP No.34619/2003 Jateendranath Vs State Bank of Mysore and other related cases in WP Nos:

19267/2003, 46601/2004 & 10514/2005, Karnataka High Court gave judgements in favour of affected

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pensioners by ordering payment of Pension/Commutation arrears to those retired during 01-04-1998

to 30-04-2005.

4. In D.B. Civil Special Appeal (W) No. 493/2010 LIC of India Vs Asthana, Jaipur bench of Rajasthan

High Court ordered LIC management to implement its own Resolution and implement uniform

Dearness Relief Formula for all pensioners without any discrimination, besides updation.

5. In the WP No.37198/2001 M.C.Ratnakaran Vs Canara Bank, Kerala High Court has ordered fixation

of pension as 50% of average emoluments for the last 10 months as defined in the statutory pension

regulations and consequent payment of arrears of Commutation/Pension from the date of

retirement till date of re-fixation.

6. In respect of WP 710/2009 Karnik Vs Reserve Bank of India it was urged before Bombay High Court

for implementation of Updation of Pension as contained in the RBI Circular dated 01-09-2003.

7. In the Writ Petition No.26916/2010 - D.Arun Kumar & 56 Others Vs Canara Bank, the Officers, who

were denied pension option in 2010 on account of their Voluntary Retirement from Bank’s service as

per Officers’ Service Regulations, joined together and filed Writ Petition in Madras High Court seeking

justice. Also a petition was filed seeking priority hearing of the case on grounds of litigants being

Senior Citizens.

8. With regard to Writ Petition No.23522/2011 M.P.Ramachandran Rao & 31 Others Vs Canara Bank

the Officers, who were denied pension option in 2010 on account of their Voluntary Retirement from

Bank’s service as per Officers’ Service Regulations, joined together and filed Writ Petition in Karnataka

High Court seeking justice. Also, it is learnt that another petition has been filed for clubbing similar

cases of Officials from various banks for common hearing in the Karnataka High Court.

SUPREME COURT: Wife sole claimant of dead man’s pension:

New Delhi: Deciding a long and bitter ‘saas-bahu’ fight over a dead man’s pension, the Supreme Court

stood behind the daughter -in- law and ruled that a widow alone was entitled to pension after death

of an employee and not his mother.

A bench of Justices A R dave and L Nageshwar Rao faced a tricky question while deciding the dispute

between the mother and wife of deceased Haryana government employee Yash Pal. While the widow

laid claim to late husband’s pension, the mother cited the Hindu Succession Act to stake claim.

Writing the judgment for the bench, Justice Dave said so far as provisions of Hindu Succession Act,

1956 were concerned, the properties of a Hindu who dies intestate (without writing a will) would first

of all go to persons categorized as class- I heirs.

“ Therefore, so far as the properties of late Yash Pal are concerned, they would be decided among the

mother and widow, provided no other family members of Yash Pal is alive who would fall within class-

I heirs,” Justice Dave said.

But the position on pension was different, the SC said. Citing an earlier judgement, the court said

family pension did not form part of the deceased man’s property to be decided among his family

members categorized as class- I heirs.

Courtesy: The TOI: 30.09.2016

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HYDERABAD ASSOCIATION MET SRI VK SARMA, CHAIRMAN (I/c) & MD AND SUBMITTED A

REPRESENTATION RE-PRODUCED BELOW (COURTSEY – CH MAHADEVAN):

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MEMBERS’ NEWS:

Sri Shyamal Dasgupta joined our association in Sept’2016. Eastern News cordially welcomes him in

the family of Kolkata Association and wishes his healthy and peaceful retired life.

ASSOCIATION NEWS:

FROM THE DESK OF GENERAL SECRETARY, KOLKATA

We extend our greetings and good wishes to every reader and their families on

the occasions of Vijoya Dashami/Dussera and Deepabali/Diwali .

The months of October and November are the months of welcome relief from

long monsoon, preceded by intense summer. During these months, average middle

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and upper class urban Indians set out for visiting places of interest while the

others, the rural Indians, wait for the good crops to be harvested and earn a handsome dividend for the investment of their hard labour braving the hot

summer and the monsoon.

The LIC pensioners, also, expected some results out of Delhi HC before the beginning of the festival season. The Holy mother Durga and Kali did not think it right time to end the test of tolerance for the LIC Pensioners to have a good time.

As a result we saw the passing on of the two great festivals of Durga Puja and Deepabali with the feeling of despair on the question why the judiciary and LIC is so unkind towards the LIC Pensioners.

The Delhi HC on 27th september’16 adjourned the hearing on two issues (i) Applicability of Rule 3A of pension rules for payment of 40 % of arrears pension as Interim Relief (ii) the constitutional validity of Rule 3A.

On 17th october’16, the Counsels for all the petitioners contested the claim of LIC that they have paid 40% IR in terms of the Supreme Court order of

31/03/2016 pointing out that the order have been misinterpreted by LIC when even the literal interpretation of the order 40% relief must be as per Rule 3 (A). This Rule envisages fixing up of the pension as at 1.8.1997 relevant to 1740 points and therefore Pre Aug 1997 must also be brought to the Post Aug 1997

level and 40% of the increase has to be paid as interim relief. It was, also, pointed that Post Aug 1997 envisages an addition of 11.25% apart from merging of DR. The Hon Court stated that they would pass a verdict on this issue shortly and posted the remaining matter of WPs for consideration on 30th November’16.

Let us wait for a positive verdict and the hearing on 30th November on the main issues.

A positive verdict against the issue of LIC’s claim of correctly applying the Rule 3A, will stand the petitioners on good stead because half the battle of up-

gradation will be won by way of conceding the up-gradation.

In the background of the situation arising out of the court cases, the Executive committee of the Federation of Retired LIC Class-I officers’ associations will meet and take a stock of the situation. We hope that the meeting will also

consider relieving the immense burden from the shoulder of the octogenarian chief executive of the Federation. The issue needs immediate consideration as we

should not keep our eyes closed when the interest of the Retired Class-I officers are involved and the great leader has not been maintaining a good health

because of his age. Besides, the Federation has so far neglected its responsibility to identify and groom next group of leaders of the Federation who are willing

and able to steer ahead. Delhi, being the centre of legal activity, appears to be not entrusted enough authority and responsibility to build rapport with our

advocates and at Government level. We trust the members of the Federation EC will not set aside the important organizational issues in their anxiety to discuss

legal matters. We expect a very constructive role on the part of Sri GN

Sridharan, the founder leader of the Federation.

The Vijoya Sanmeloni of the Association members had taken place on 19th October’16, the first Wednesday after the great festival of Durga puja, at the

association room. Nearly 30 members joined the celebration embracing each other with all good wishes. Some of the participating members sang songs entertaining the gathering. Our senior most Vice president, Sri Ajoy Sengupta,

lent his voice to a famous Rabindra Sangeet. Sri Pashupati Bandyopadhay, our revered President, recited from Rabindra Nath Tagore’s SHESHER KOBITA. The meeting was over with sweets.

The Annual Get-together of the Association is likely to take place in December 2016 at Bidhan Sishu Uddan, Kolkata and preparatory work has commenced. Date will be announced soon.

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NEWS IN BRIEF : IDENTIFY SECURED SITES BEFORE USING DEBIT/CREDIT CARDS :

HTTP stands for HyperText Transfer Protocol, which is just a fancy way of saying it's a protocol (how

messages are formatted and transmitted by world wide web) for information to be passed back and

forth between web servers and clients. We really don't need to know what it all stands for; but we must

know the importance of the letter S which makes the difference between HTTP and HTTPS.

The S (big surprise) stands for "Secure". If you visit a website or webpage, and look at the address in the

web browser, it will likely begin with the following:http://. This means that the website is talking to your

browser using the regular 'unsecure' protocol. In other words, it is possible for someone to "eavesdrop"

on your computer's conversation with the website. If you fill out a form on the website, someone might

see the information you send to that site.

This is why you should never enter your credit card number in an http website!

But if the web address begins with https://, that basically means your computer is talking to the

website in a secure code that no one can eavesdrop on. If a website ever asks you to enter your credit

card information, you should automatically look to see if the web address begins with https://.

If it doesn't, there's no way you're going to enter sensitive information like a credit card number!

Here are some major differences between HTTP and HTTPS:

HTTP HTTPS

URL begins with “http://” URL begins with “https://”

It uses port 80 for communication It uses port 443 for communication

Unsecured Secured

Operates at Application Layer Operates at Transport Layer

No encryption Encryption is present

No certificates required Certificates required

EXTRACTS FROM IRDA HEALTH INSURANCE REGULATIONS, 2016

A VERY USEFUL AND VITAL IMPORTANT INFORMATION REGARDING MEDI CLAIM/HEALTH INSURANCE POLICY.

Health insurance claims :

Earlier there were no regulations at all in the medical industry since its inception, even for basic issues

like claims settlement, policy renewal, senior citizens premiums, etc and Rs 15,000 crore worth claims

were passed annually, without any rules or regulations.

Based on a Public Interest Litigation (PIL 12 of 2011) filed by Gaurang Damani (author of a website),

IRDA came out with Health Insurance Regulations, 2016 for the entire medical insurance (mediclaim)

industry. These regulations should benefit over 20 crore citizens, who own a medical insurance (private

or state) policy in India.

Main features of the Health Insurance Regulations (HIR), 2016 Related to Claims:

• TPA is not permitted to settle/ reject/ repudiate claims, as per Sec 33(c) of HIR 2016

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• The claims settlement (or rejection) letter should mention the specific grounds for denial/ rejection of

claim, as per Sec 33(d)(iv) of HIR 2016

• Consumer will get interest of 2% over the prevailing bank rates, on claims payment delayed beyond 30

days and will have to mentioned in the policy document, as per Sec 28(iv) of HIR 2016

• The claims payment will be made from the Insurer's bank account and not the TPA's, as per Sec 32 of

HIR 2016 Earlier claim cheques were issued to the customer by the TPA (Third party Administrator), but

now the insurance company would have to write a claim cheque or ECS directly to the customer. This

would eliminate the float that some of the TPAs were enjoying. Also, there was never any public audit of

the claims funds sanctioned by the Insurance company v/s actual amount disbursed by the TPA.

• TPA has to electronically transfer the claims document to Insurer for a decision as per Sec 35(a) of HIR

2016

• The TPA will ask for claims related papers in one time only, and not in a piece meal manner as per Sec

27(ii) of HIR 2016

• Non-allopathic (AYUSH) treatments may be covered, as per Sec 18 of HIR 2016

• Fees to the TPA shall not be related to reduction of claims costs as per Sec 20(6) of Health Services

Regulations for TPA, 2016

• Discounts offered by hospitals have to passed on to the policyholders, as per Sec 20(9) of Health

Services Regulations for TPA, 2016

• Change of TPA will be intimated to the consumer in writing 30 days before hand as per Sec 34(a) of HIR

2016 Related to policy document:

• Premium for individual policies cannot be increased at renewals in an arbitrary way, especially after a

claim is made, as per Sec 25(i) of HIR 2016.

• There will be no change in premiums in individual policies for 3 years after initial offering, as per Sec

10(c) of HIR 2016

• Cannot force consumer to shift to other product as per Sec 11(c) and 17 of HIR 2016

• All policies will be ordinarily renewable as per Sec 13 of HIR 2016

• Customer Information Sheet must be part of the policy document, as per sec 26 of HIR, 2016

• ID card to have logo of Insurance company (not of TPA) and the card may be permanent, as per Sec

30(f) of HIR 2016

• Policy is portable from one Insurer to another, 45 days prior to maturity of policy (including cumulative

bonus would also be portable), as per Schedule I, Sec(1) & (18) of HIR 2016

• Free-look period is 15 days as per Sec 14 of HIR 2016

• Cumulative bonus amount to be clearly mentioned in the policy, as per sec 16(i) of HIR, 2016

• All disclosures as per the new regulations have to be included in the policy document, as per sec 28 of

HIR, 2016

• For multiple policies, claims under other policy can be made after exhaustion of Sum Insured in the

earlier policy, as per Sec 24 (ii)2 of HIR 2016. The option to chose will remain with the insured

Related to Senior citizens:

• Entry age is up to 65 years and there will not be any exit date for a policy as per Sec 12 of HIR 2016

• Premiums shall be fair, justified, transparent and duly disclosed upfront, as per Sec 23(i) of HIR 2016

• Separate claims & grievance cell, as per Sec 23(ii) of HIR 2016

Other regulations:

• Withdrawal of a product needs prior IRDA approval and at least 3 months notice, as per Sec 5(ii) of HIR

2016

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• Group Insurance cannot be offered to groups specifically formed to avail insurance, as per Sec 7(a) of

HIR 2016

• Pre-insurance check-up cost included in premium as per Sec 15(i) of HIR 2016

Important precautions to be taken in case of claims:

• Best option for the consumer is to obtain Cashless facility i.e. the Insurance company pays the bills

directly to the hospital. But the hospital must be part of their preferred network (PPN), which list should

be available on the insurance company website.

• If you wish to take treatment in a hospital, which is not on the PPN cashless list, then make sure you

intimate the Insurance company/ TPA within 24 hours of admission in any hospital.

• In case of a pre-planned surgery, it is better to inform the Insurance company/ TPA much earlier.

• As per IRDA's guidelines to the Insurance companies, the consumer cannot be forced to sign the

discharge or Settlement Intimation voucher. Signing the discharge voucher does not mean that the

Insurer's liability is over.

Disputes resolution, especially Claims processing :

For claims-related complaints, consumers can write to the Grievance cell of the Insurance company. As

per IRDA guidelines, grievances must be acknowledged by the Insurance company in 3 working days and

it must be resolved in 15 working days. If there is no response to the letter, you can file a Right to

Information (RTI) application with the Grievance Officer.

The IRDA Call Centre (toll-free at 155255) also offers an alternative channel for policyholders, serving

from 8 AM to 8 PM, Monday to Saturday in Hindi, English and various Indian languages.

You can also write to [email protected] or online or through post at:

Consumer Affairs Department, Insurance Regulatory and Development Authority (IRDA)

3rd floor, Parishram Bhavan, Basheer Bagh, Hyderabad.

For still unresolved disputes of less than Rs 20 lakhs pertaining to claims settlement or regarding

premiums paid/ payable and non-issue of insurance documents, the Insurance Ombudsman can be

approached. The written complaint with the relevant claim papers can be send by the customer himself

(no lawyer is required), within 1 year of dispute. After registering with the Ombudsman office, attach

this application document.

Contact details of Insurance Ombudsmen in India.

Other general guidelines:

• Generally Family floater policy is cheaper than buying individual policies for family members.

• Generally bed charges are 1-2% of the sum assured, depending on your Insurance carrier. All other

charges like doctor visit etc. are often related to this bed charge, so it is important to be within these

limits.

• Co-Pay means that a certain percentage or a certain fixed amount of the claim has to be borne by the

policyholder. If co-pay is 15%, then whatever is the hospital bill you will have to pay the 15% and

balance 85% only will be paid by the Insurance company.

• Generally exclusions and pre-existing diseases are not covered by a medical insurance policy (as

specified in their policy document). Generally these could be covered after 2 years of holding the policy.

Consumer must be honest in disclosing pre-existing ailments, if any.

• Policy can be renewed within 15 days grace period after expiry of the policy. However coverage is not

available for the days for which the premium was not received by the Insurance company.

• One can transfer the policy from one Insurance company to another and the credits (including

cumulative bonus) would also be portable.

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• New policy should be issued within 15 days of submission of proposal

• To keep a check that people don't try to take a policy where they have been diagnosed with some

illness and they require immediate hospitalization, a 30 day waiting period is kept, where Insurance

Company will not pay any kind of claim within the first 30 days of taking the new policy, (exception is

that if policyholder meets an accident then the claim is payable).

• Under Section 80D of Income Tax, annual deductions upto Rs 25,000 can be availed of (Rs 30,000 for

senior citizens).

FINANCIAL NEWS :

LIC PENSIONERS EITHER IN ABROAD ON FAMILY VISIT OR FINALLY SETTLED FIND IT DIFFICULT TO SUBMIT HIS

CERTIFICATE OF EXISTENCE FOR CONTINUATION OF PENSION IN THE ABSENCE OF CLEAR INSTRUCTIONS FROM

LIC CAUSING HARASSMENT AND WORRIES. THE ENCLOSED OLD CIRCULAR MAY HELP PENSIONERS IN THIS

REGARD :

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[News published in Business Line of The Hindu.]

IBA agrees to look into pension revision for retirees : NS VAGEESH/G NAGA SRIDHAR

Employees Union hopeful of positive examination of its demands

MUMBAI/HYDERABAD, APRIL 15, 2016:

There seems to be light at the end of the tunnel finally for scores of retired bank employees.

The long pending demand for revision of pension has finally come up for positive examination by the

Indian Banks’ Association (IBA).

From 1986, pension for retired bank employees has not been revised as there is no practice of

periodical revision of pension along with the Pay Commission’s review of pay scales being followed in

the case of government employees.

There has also been no increase in the quantum of pension payable to family members after the

death of a serving or retired employee.

However, the United Federation of Bank Unions (UFBU) has been able to break the ice in these

matters in its talks with the IBA team held a couple of days ago.

“The IBA has agreed to examine these issues and is sympathetic. It has called for details of the

number of present pensioners, and family pensioners, from banks,” CH Venkatachalam, General

Secretary, AIBEA, who represented UFBU along with its convener MV Murali and others, told Business

Line.

×A request for calculating uniform DA rate for those who retired prior to 2002 is also being taken

up. After 2002, employees/pensioners get 100 per cent compensation when prices go up. “Prior to

that, we have been tapering the DA formula. So, we want the same uniform formula on DA for those

retired employees also,” he said.

The employee body has also asked the IBA to expedite the cost calculation as the demands have been

pending for quite a long time and the retired employees being aged, need to be considered with

sympathy and without undue delay.

The IBA has assured the union to expedite work in this regard.

According to M Harshavardhan, Advisor, All India Bank Officers’ Federation, revision of pension and

its regular updation will not cause ‘undue’ financial burden on banks as has been projected. “Banks

are very much capable of bearing additional expenses to be incurred on account of revision in pension

rate,” he said.

The IBA has also agreed to take up with bank managements the problems faced in reimbursement of

health care costs/health insurance issues.

There is no consolidated data on the number of pensioners and the IBA is in the process of arriving at

a figure shortly. There are about 11.50 lakh bank employees today with almost 50 per cent of them in

clerical jobs. The number of retirements has gone up by 2-4 per cent in the last five years and the

trend is expected to continue for the next three to four years. (This article was published on April 15, 2016)

Subject: Great Victory of RTI activities in Banking.

“I am happy to inform you that RTI activity has made history by Removal of a Chairman & Managing

Director of Bank of Maharashtra a PSB. This is first case where in CMD of a PSB is removed due to

complaint made by use of documents got under RTI act. Complaint was for misuse of power and

position for personal gains…Please circulate to all present and ex-staff members of Public sector

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banks. so that common staff member can rest assured that with use of RTI Act and proper followup

even a chairman can be brought to books, and nobody is above law.

My contact number is 0945873725 and name Suhas B Vaidya. I am conveyor of BMSRTICELL PUNE. We

have been working on RTI since 2011……..Suhas Vaidya

MUMBAI: Banks in India will either replace or ask users to change the security codes of as many as

3.2 million debit cards in what's emerging as one of the biggest ever breaches of financial data in

India, people aware of the matter said. Several victims have reported unauthorised usage from

locations in China. Of the cards, 2.6 million are said to be on the Visa and Master-Card platform and

600,000 on the RuPay platform. The worst-hit of the card-issuing banks are State Bank of Ind .. HDFC

Bank BSE 1.19 %, ICICI Bank BSE 0.07 %, YES Bank and Axis Bank, the people said.

The breach is said to have originated in malware introduced in systems of Hitachi Payment Services,

enabling fraudsters to steal information allowing them to steal funds.

New RBI guideline tells banks, wallets to reimburse victims of fraud :

CHENNAI: Anupam Agarwal had loaded his Freecharge account with Rs 10,000 only a week before he

found it swiped out. What is scary in his narrative is that the money was transferred to a bank account

exactly one week the statutory period as set by RBI -after the account was opened. Guidelines say

money from an e-wallet cannot be transferred to a bank account before the account is seven-days-old.

"Even if they had tried one day earlier, they couldn't have been able to transfer the money . This makes

me to suspect that it was an insider job," said Agarwal who has filed an FIR with the cyber crime police.

The RBI, however, came down hard on banks, e-wallets and payment gateways last week. In a circular

dated August 11, the Apex bank has clearly stated that customers will have zero liability in case of an

online fraud due to poor IT security at a bank or an e-wallet. RBI has said there should be 100%

reimbursement if the customer reported the fraud within three days.

Banks can be penalized for credit or debit card fraud :

On 27 September, 2013 the Reserve Bank of India (RBI) issued a notification stating that it will not give any

further extension to comply with the task to secure the technology infrastructure for any debit or credit card

transaction. Let’s understand what it means for the bank and you.

No more extension

In order to contain frauds in payment systems, RBI had said that there is a need to secure card-based

transactions to protect the interest of card holders. RBI constituted a working group in March 2011 to

examine and recommend an action plan which will foolproof the ecosystem. The group recommended

measures to secure the technology infrastructure, improve fraud risk management practices and strengthen

merchant sourcing process. RBI had set a deadline for this purpose. However, various banks approached the

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banking regulator seeking extension of the 30 September deadline. But RBI decided not to give any further

extension.

What does it mean for banks?

Banks that do not comply with the security requirements will have to compensate losses incurred by any card

holder using debit or credit card at any point of sale (PoS) terminal. So for instance, if you swipe your card at

a shop and any fraudulent activity takes place, then your bank will have to pay for it.

RBI has also set a timeline for banks to pay for any fraudulent activity. RBI has mandated banks to find out

within three working days from the date of complaint whether the PoS terminal where the transaction was

done is compliant with the prescribed security mandate. If it is found that the PoS terminal is non-compliant,

the issuing bank will have to pay the disputed amount to the customer within seven working days.

If the bank fails to pay the money that was compromised within seven working days, it will have to

pay Rs.100 per day to the customer from the eighth working day. RBI further says that the issuing bank shall

claim the amount paid by it to the customer from the respective bank which has acquired the PoS transaction

in question. The acquiring bank has to pay the amount paid by the issuing bank without demur within three

working days of the issuing bank raising the claim.

What does it mean for you?

There has been an increase in the number of fraudulent activities on debit and credit card transactions. And

there have been instances where banks have refused to even register a complaint in case of any credit and

debit card fraud. This circular should put to rest the confusion on who will take the blame in case of a

dispute. You also need to be prudent to register complaint as soon as you realize that a fraudulent activity

has happened.

August 11, 2016

RBI seeks Comments on Draft Circular on Customer Protection – Limiting Liability of Customers in

Unauthorised Electronic Banking Transactions

The Reserve Bank of India has today placed on its website the Draft Circular on “Customer Protection –

Limiting Liability of Customers in Unauthorised Electronic Banking Transactions”, for feedback.

Suggestions/comments, if any, on the Draft Circular may be sent by post to the Chief General Manager,

Department of Banking Regulation, Reserve Bank of India, Central Office, 12th Floor, Shahid Bhagat

Singh Marg, Mumbai-400 001, or Please click here to send email on or before August 31, 2016.

The highlights of the draft circular are:

1) Where customer’s own involvement is established, customer will be liable.

2) Customer will not be liable:

a) Where fraud/negligence is on the part of the bank;

�ेस �काशनी PRESS RELEASE संचार �वभाग, क��य कायाल�य, एस.बी.एस.मागर,्

मंुबई-400001 _________________________________________________________________________

____________________________________________

DEPARTMENT OF COMMUNICATION, CentralOffice, S.B.S.Marg,

Mumbai-400001

फोन/Phone: 91 22 2266 0502 फै�स/Fax: 91 22 22660358

भारतीय �रज़वर ्ब�क RESERVE BANK OF INDIA

0वेबसाइट : www.rbi.org.in/hindi Website : www.rbi.org.in

इ-मेल email: [email protected]

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b) Third party breach where the customer notifies the bank within three working days of

receiving communication from the bank regarding unauthorized transaction.

3) Where customer’s own involvement is not clearly established, customer liability will be limited to a

maximum of 5000/- if he reports within 4 to 7 working days.

4) If customer reports beyond 7 working days, customer liability will be determined based on bank’s

Board approved policy.

Background

The recent surge in customer grievances relating to unauthorised electronic banking transactions

resulting in debits to their accounts/cards, has necessitated a review of the criteria for determining the

customer liability in these circumstances.

Alpana Killawala

Press Release : 2016-2017/388 Principal Adviser

OF INTEREST:

Senior Citizens can benefit from Revese Mortgage!

The life expectancy in India has been rising steadily in the last few decades. However, so have the costs of

medical treatment. For senior citizens, who have a lack of regular income or financial support from children, this

could lead to a financial crisis. Further, gone are the days when the elderly lived with their sons and daughters,

depending on them for their amenities and medical needs. The reverse mortgage, introduced by the Union

Government in 2007, is an answer to such issues faced by senior citizens, giving them a life of dignity.

What is reverse mortgage?

Mr. Sharma, a central government retiree, has been living with his wife in an independent home for the last 35

years. His two sons, both settled in New York, have no intention of moving base to India. Husband and wife, well

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past in their sixties do not wish to live with their sons in a foreign country. Mr. Sharma, a heart patient and his

wife a diabetic, have a substantial monthly medical expenditure. Not satisfied with his pension, and not wanting

to depend on his sons, for household expenditure as well as medical care, he approached his bank for a solution.

The bank advised him to opt for Reverse Mortgage, to ease his monthly expenses.

In simple terms, a reverse mortgage is the "opposite" of a conventional home loan. A reverse mortgage enables

a senior citizen to receive a regular stream of income from a lender (a bank or a financial institution) against the

mortgage of his home. The borrower (i.e. the individual pledging the property), continues to reside in the

property till the end of his life and receives a periodic payment on it.

How does a reverse mortgage work?

When the home is pledged, its monetary value is arrived at by the bank, on the basis of the demand for the

property, current property prices, and the condition of the house. The bank then disburses a loan amount to the

borrower in the form of periodic payments, after considering a margin for interest costs and price fluctuations.

The periodic payments also known as reverse EMI are received by the borrower over fixed loan tenure. With

each payment, whether monthly or quarterly, the equity or the individual's interest in the house decreases.

A reverse mortgage is an ideal option for senior citizens who require regular income, or if the property is of

illiquid nature for some reason.

General guidelines for reverse mortgage :

The Reserve Bank of India has formulated the following guidelines for a reverse mortgage.

Maximum loan amount would be up to 60% of the value of the residential property.

Maximum tenure of the mortgage is 15 years and minimum is 10 years. Some banks are now also offering a

maximum tenure of 20 years.

Option of monthly, quarterly, annual or lump sum loan payment.

Property revaluation to be undertaken by the lender once every 5 years.

If at such time, the valuation has increased, borrowers have the option of increasing the quantum of the loan. In

such a case, they are given the incremental amount in lump-sum.

Amount received through reverse mortgage is a loan and not income. Hence it will not attract any tax. However,

a borrower is liable to capital gains tax, at the point of alienation of the mortgaged property by the mortgagee

for the purposes of recovering the loan.

Reverse mortgage interest rates could be either fixed or floating. The rate would be determined by the

prevailing market interest rates.

Eligibility Criteria for reverse mortgage :

House owners above the age of 60 years. If spouse is a co-applicant, then she should be above 58 years.

Owners of a self-acquired, self-occupied residential house or flat, located in India. The titles should be clear,

indicating the prospective borrower's ownership of the property.

Property should be free from any encumbrances.

The life of the property should be of minimum 20 years.

Property should be the permanent primary residence of the individuals.

Settlement of a reverse mortgage :

A reverse mortgage loan becomes due when the last surviving borrower dies, or if the borrower chooses to sell

the house. The bank first gives an option to the next of kin to settle the loan along with accumulated interest,

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without sale of property. If the next of kin is unable to settle the loan, the bank then opts to recover the same

from the sale proceeds of the property.

Any extra amount, after settlement of the loan with accrued interest and expenses, through the sale of the

property, will be passed on to the legal heirs. If the sale proceeds are lower than the accrued principal plus

interest amount, the loss is borne by the bank. This loss could happen in cases where the banks original

estimation is not in line with the real estate market movement.

Other Highlights of reverse mortgage :

Prepayment of loan: Borrowers could prepay the loan at any time during the tenor of the loan, at no

prepayment penalty or charges.

Outliving the tenure of the loan: If the borrower outlives the tenure of the loan, he could continue to stay in the

house. The lending institution may however cease the monthly payments. Settlement of the loan is done only

after the borrower's death.

Death of one of the spouses: If one of the spouses dies, the other can still continue living in the house. Only on

death of both, settlement of the loan takes place.

Foreclosure: The loan could be foreclosed by the lender if

The borrower has not stayed in the house for a continuous period of one year.

The borrower has not paid property taxes and fails to insure the home

If the borrower declares himself as bankrupt.

If the mortgaged property is donated or abandoned by the borrower.

If the borrower makes changes in the residential property, that could affect the security of the loan for the

lender. This could be renting out part or entire house, addition of a new owner to the house's title or creating

further encumbrance on the property.

If the government under statutory provisions, seeks to acquire or condemn the residential property for health or

safety reasons.

Drawbacks of reverse mortgage:

Lengthy documentation procedures: Banks require various documents of the property. For a senior citizen this

procedure could be tedious, complicated and difficult to understand.

Fixed monthly amounts: The monthly payouts are fixed. There is no provision to increase this amount in case of

an emergency or contingency.

Popularity of the scheme in India :

Though introduced in 2007, Reverse Mortgage has not gained much popularity in India for the following

reasons. Inadequate marketing of the product. Recent reports indicate that many of the senior citizens are not

aware of the existence of such a product.

Many banks which offer Reverse Mortgage have capped the maximum loan amount available for individuals to a

maximum amount of Rs. 50 lakhs to 1 crore.

Children have resentment for a reverse mortgage as they see it as giving away their family home or legacy.

Reverse Mortgage is a relatively new concept in India. It would take some time for a change in mind set of

individuals to accept it. As a financial tool, Reverse Mortgage is ideal to augment a senior citizen's income in his

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years ahead. Despite all its shortcomings in India, it could make good the shortfall in one's pension or income to

live a quality life ahead.

QUIZ :

PHOTOGRAPHY:

DURGA PUJA NIGHT’2016 IN KOLKATA CITY :: PHOTO BY JAYANTA KUMAR LAHIRI, OUR MEMBER

REPLY TO OCT’16 QUIZ :

1. In which year laptop first appeared in the matket : 1980

2. 80% people of which country like blue color? America

3. What is the largest epic of the world ? Mahabharat

4. Who is the father of present computer? Von Newman

5. Tell a sentence which has all alphabets from A to Z ?

A quick brown fox jumps over the lazy dog.

6. What is the parent Disrict of Hooghly? Bardhaman

WHICH TEMPLE IT IS?

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INSPIRATIONAL QUOTES :

SPIRITUAL :

Thank God Always!

A rich man looked through his window and saw a poor man picking something from his dustbin ... He said,

Thank GOD I'm not poor.

The poor man looked around and saw a half covered man misbehaving on the street ... He said, Thank GOD I'm

not mad.

The mad man looked ahead and saw an ambulance carrying a patient ... He said, Thank GOD I am not sick.

Then a sick person in hospital saw a trolley taking a dead body to the mortuary ... He said, Thank GOD I'm not

dead.

Only a dead person cannot thank God.

Why don't you thank GOD today for all your blessings and for the gift of life ... for another beautiful day.

JOKES :

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HEALTH GUIDE FOR PENSIONERS :

Garlic is a miracle herb that has been held in high esteem for over 6000 years and it is a cure

for High Blood Pressure.

Most diseases and illnesses occur because man has gone against mother natures laws of life - be it stress,

smoking, alcohol, obesity, sedentary lifestyle etc. However despite this one can still take recourse to natural

wonders or miracle herbs and spices for the cure of illnesses. Generally these herbs and spices cause lesser side

effects and even perhaps increases your longevity. Garlic is one such miracle herb that has been held in high

esteem for over 6000 years.

Garlic has been extensively used in the past, not only in China and Egypt, but also in Germany and in countries

all over the world.

Khnoom Khoufouf, the builder of the ancient pyramids in 4500 B.C said -“It is ordered that all my workers take

garlic everyday to maintain their health and strength.”

Garlic (allium sativum) has originated from Asia and belongs to the family of liliaceae or the lily family. It is a

perennial bulb made up of 7-35 divided cloves or bulblets that are covered in papery, transparently white

glistening skin. The medicinal part of the plant is the bulb. The peculiar strong scent of garlic is due to its sulfur

containing compound or volatile oil known as Allicin.

Can Garlic Control High Blood Pressure

Garlic is considered for a multitude of disorders and illnesses besides hypertension because of its properties. It is

antibacterial, antiviral and antifungal in nature. It is used in the treatment of allergies or hay fever, herpes,

sunburns, heart ailments like arteriosclerosis and cholesterol problems. Garlic is also an anticarcinogenic food

and useful in typhoid, sinusitis, laryngitis and pneumonia, influenza and other respiratory illnesses. It is

antispasmodic in nature as it eases the spasms of small arteries, and prevents the development of blood clots.

Garlic is also used to treat rheumatism and is antiparasitic in nature. It is a known insecticide, protects against

disease and increases strength and productivity.

High Blood Pressure - The pressure or tension exerted by the blood on the arteries and the venous blood vessels

is called blood pressure. Normal blood pressure is less than 120/80 mmHg, where 120 is the systolic blood

pressure (SBP) and 80 is the diastolic blood pressure (DBP).

I STOOD FOR YOU WHEN YOU HAD NONE, NOW

I’M NONE TO YOU AS YOU HAVE GOT SO MANY.

A BUS WITH ALL MARRIED WOMEN ON BOARD MET WITH AN

ACCIDENT AND ALL PASSANGERS DIED. ALL THE HUSBANDS CRIED

FOR ONE HOUR EXCEPT ONE WHO CRIED FOR TWO HOURS. WHEN

ASKED HE INFORMED THAT HER WIFE MISSED THE BUS.

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High blood pressure occurs when the blood is pumped by the heart through the system that is abnormally fast

and powerful. This sustained greater than normal force and pressure can cause damage to the arteries.

Prehypertension or Borderline Hypertension is when the systolic pressure is between 120 to 139 and/or the

diastolic pressure is between 80 and 89.

Stage 1 hypertension is when the systolic pressure is between 140 to 159 and/or the diastolic pressure is

between 90 and 99.

Stage 2 hypertension is when the systolic blood pressure is around 160 to 179 and the diastolic blood pressure is

from100 till about 120.

Stage 3 Hypertension is increased blood pressure when the systolic blood pressure is more than 180 and the

diastolic blood pressure is more than 120.

High blood pressure is of two types:

Essential Hypertension or Primary Hypertension - When increase in the blood pressure or hypertension is not

due to any underlying disease process.

Secondary hypertension - When hypertension is because of some other disease or illness, such as an underlying

kidney disease or a heart block it is known as secondary hypertension.

Factors that can contribute to Primary or Essential Hypertension - Most of the associated causes are because of

lifestyle problems, such as:

1. Stress and Tension: In the fast paced environment that we live in, stress and its associated problems are a

common cause to increase blood pressure. This is more in “type A personalities” or in people who are high

achievers.

2. Smoking: Nicotine in cigarettes and tobacco increase BP (blood pressure).

3. Obesity: Obesity has the maximum contribution in increasing BP. This is because the heart has to work more

to keep up with the increased body mass, which requires more blood for the supply of essential oxygen and

nutrients to tissues in your body.

4. Sedentary Lifestyle: Lack of physical activity or a sedentary lifestyle tends to increase the heart rate and

makes your heart work more!

5. Saturated fatty acids in the diet can also result in an elevated level of blood pressure.

6. Alcohol: Excessive alcohol intake increases the risks of hypertension.

7. Elderly: The elderly are more at risk for hypertension because of reduced complaibility and flexibility of blood

vessels.

8. Excessive Salt intake: Excessive normal salt or sodium in the diet can result in fluid retention and high blood

pressure.

9. Potassium intake: Low potassium diet increases the sodium in the cells due to the sodium potassium pump.

10. Hereditary: High blood pressure is often familial in nature and runs in families.

Causes of Secondary Hypertension High blood pressure secondary to an underlying condition or disorder such

as hormonal disorders, thyroid disease, kidney disease, adrenal gland disease, and the use of drugs such as oral

contraceptives. This type of high blood pressure is called secondary hypertension.

READERS’ VIEWS :

1. Thank you Sir for the EN. The editorial was very apt and reflects an unfortunate reality. Leadership

,besides what is so well mentioned in the editorial, is also about knowing when to call it a day and

handing the baton to someone groomed to carry the organisation into the future……….Ashok Shah.

2. Thank you very much. What an Editorial! So forthright, so timely and so clear. Keep it up…..M

Sreenivasa Murty, Hyderabad

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3. Happy Puja to all of u.Thanks for sharing the information. ……… BNPGupta., जमसेदपुर

4. Well. In your editorial of above issue almost you have mirrored/ reflected all the pensioners

inner feeling so far not divulged by anyone for various reasons particularly the possible onslaught of

some vested interested people with in the organisation. This type of menace prevailed then while in

service but existing even now in our quarter is much deplorable. You have very rightly put in very

appropriately at right time. I hope this editorial will have some positive ripple effect among our

pensioners community as well as among our leaders. Once again my congratulations for your

boldness………P.G.Vijairengam.

5. Thank you for the October news letter and correction. Pl. keep it up………S K Kapahi.

6. Thank you very much for sending the News magazine with usual promptitude. The contents are

very informative an useful for all readers. Great job being done by Kolkata Association of retired LIC

Class I Officers' Association.

Greetings……….CHMahadevan

7. Thanks for the October copy of the EN. One more excellent issue. Hearty congrats…R. Venugopal.

Consumer Price Index for Sep’2016 declared on 31.10.2016 was 277 (6322.77)

In service employees are eligible for 23 more slabs of DA from 01.11.2016

EDITORIAL NOTE :

ANY BRILLIANT ACHIEVEMENT/SUCCESS IN ANY FRONT IN THE FAMILY OF LIC PENSIONERS INCLUDING

PHOTOGRAPH MAY BE SENT TO US FOR FOCUSSING THROUGH OUR E-MAGAZINE.

Feedback/Write Ups/Information/Readers’ Views/Request with e-mail id for soft copy of monthly e-

Magazine EASTERN NEWS free of cost may please be sent to following e-mail IDs :

LIC RETIRED OFFICERS’ ASSOCIATION : [email protected]

AMAR KUMAR GOSWAMI : [email protected]

SUBIR KUMAR MAZUMDAR : [email protected]

Monthly EASTERN NEWS can NOW be read directly from :

PENSIONERS VOICE & SOUND TRACK, EDITOR :: RK SAHNI :

http://www.rksahni.blogspot.in/

LIC PENSIONERS’ CHRONICLE, EDITOR :: PG GANGADHARAN :

http://licpensionerscalicut.blogspot.in/

AIRIEF WEBSITE :: AN INITIATIVE OF RB KISHORE :

https://airiefvision.wordpress.com/

CHENNAI UNIT OF FEDN :

http://licofficerspensionersnews.blogspot.in/

OUR SINCERE THANKS TO THE AUTHORITIES OF THE WEBSITES.

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( a monthly e - magazine of lic retired class i officers ... · 10/11/2016 · excerpts from gn...

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