"National Organization of Insurance Officers", popularly known as ''NOINO'', is, as on date, the only Registered Organization which is continuously striving for the betterment of Class-I Officers of LIC of India.
(Source: The Financial Express - New Delhi, 09 December 2011)
AFTER the fiasco on retail FDI the UPA government is facing failure in another key reform it has long contemplated hiking FDI cap in insurance from 26% now to 49% to give Indian insurance firms an avenue to raise much-needed growth capital.
According to sources de-spite the finance ministry pitching hard for it the Parliament's standing committee on finance headed by BJP leader and former finance minister Yashwant Sinha has refused to buy the proposal to raise FDI cap in the Insurance Laws (Amendment) Bill 2008.
The standing committee's views are not binding on the government but given the acrimonious political situation the government is unlikely to overrule the committee at this juncture.
A hike would have bolstered the capital base of insurance firms besides helping them fetch better valuations in their IPOs.
Last week the Insurance Regulatory and Development Authority issued IPO norms for life insurers permitting only those with 10 years of operations to go public. HDFC Standard Life Insurance ICICI Prudential Life Insurance and Reliance Life Insurance have evinced interest in tapping the market although none of them have finalised plans as yet.
Except LIC and Sahara all insurance companies have foreign partners. Reliance Life Insurance recently inducted Nippon Life of Japan as an equity partner. Global insurers like New York Life and Prudential Financial have been lobbying hard for a higher FDI limit.
According to an estimate FDI in life insurance will rise almost 2.5 times from the current Rs 2500 crore if FDI cap is raised to 49%. Sources said in the report adopted Thursday the standing committee has clearly rejected the proposal to raise FDI limit in insurance companies.
"The finance ministry made several presentations (in favour of the hike) but we remained unconvinced" said a committee member. The committee reckoned that insurance companies which handle the savings of Indian people would do well not to allow foreign players to hold higher stakes.
Calling the panel's views "illogical" SB Mathur secretary general of Life Insurance Council a lobby group comprising 24 life insurers said "When the sector was opened up there was an understanding that 49% FDI would be allowed. That was the basis on which the foreign partners had invested."
The committee also proposed a separate definition for health insurance in the Bill and a hike in the mandatory minimum capital base for health insurance from Rs 50 crore to Rs 100 crore on par with other insurance segments.
"We have asked for a definition of the health sector and an expansion of the number of ailments treatments and procedures which can be covered under health insurance. The committee has also asked for insurance for domestic as well as international travel" said the member.The insurance industry has pumped in roughly Rs 32000 crore into the sector over the years. The Bill also allows for nationalised general insurance companies to raise fundsfrom capital markets. The life insurance industry collected Rs 49064 crore premium in the first six months of 2011-12 while the non-life insurance industry gathered a total premium of Rs 28604 crore during April-September 2011-12. State-owned LIC held a market share of around 76% in terms of new business premium for the fiscal year up to August 2011.
Sources said the parliamentary panel has also proposed removal of the exemption from IRDA registration for foreign body corporates to do business of insuring properties within special economic zones(SEZs).The panel's report on the insurance Bill is yet another piece of bad news for the embattled government.Finance minister Pranab Mukherjee had reached out to the committee on several times to cooperate on second-generation reforms and related legislative business but the committee was firm on its views.
(News courtesy: Shri Upesh Kumar, BO Rewari, Delhi DO-III)
{NOINO’s struggle against the proposed amendments in Insurance & LIC Act is paying off. Our President Shri Prakash Javadekarji should be complimented for his important role in convincing the party (BJP) for accepting our view.}
Zonal Secretaries & other office-bearers – please note:
As decided in our Extended EC meeting at Delhi recently, we are going ahead with the signature campaign for one more pension option. Please note the following:-
1. The signatures are to be collected from 20th December 2011 to 31st December 2011. After collecting the signatures, the same have to be submitted to the SDM/DM-in-charge for onward transmission to the Chairman. The format of signature sheet & letter to SDM would be provided in a day or two.
2. The signatures are to be collected personally & not through mail. These are to be collected from all classes of employees, i.e. Class I to Class IV.
3. These are to be collected only from those who have not opted for pension earlier & desire to opt for it now, if the option is given.
4. As conveyed much earlier, the Zonal Secretaries/Presidents have to ensure that the lists of the non-optees for the entire Zone have to be obtained in advance & then distributed to all the divisions.
5. Henceforth, the co-ordination for this campaign has been entrusted to Shri A K Sharma, AO, Branch 11X, Delhi DO 1, NZ. The email id of Shri Sharma is ashokar.sharma@licindia.com & his mobile number is 09868888384.
6. Kindly send your email-ids & mobile number to him immediately.
As per latest Consumer Price Index (198) increase in DA (Provisional) will be by 19 slabs. Final figure will be known on 31-01-2012 for DA increase w.e.f. 1st February 2012.
NOINO & NOIW jointly wrote a protest-letter on the issue of PLLI to Shri A K Dasgupta, Managing Director. The letter is reproduced below:
30.11.2011
Shri A K Dasgupta,
Managing Director,
L.I.C. of India.
Dear Sir,
Re: Payment of PLLI for the year 2010-2011
We are writing this letter to you a bit late as we were busy in our respective meetings (Extended EC meeting of NOINO/Secretariat meeting of NOIW) at Delhi on 21st & 22nd November 2011 & thereafter in the morcha of BMS against the economic policies of the Central government.
The instructions for payment of PLLI for the year 2010-2011 have been issued after a long wait. After receiving reports on the quantum of PLLI from majority of the centres, we are very much disappointed to say the least. The assemblies of the Extended EC meeting of NOINO/Secretariat of NOIW have passed a resolution protesting the meagre amount of PLLI as well as the delay in issuing the instructions.
We have been continuously raising certain basic issues with regards to PLLI. We again submit our say at the cost of repetition. They are:-
The “Statement of Intent” has not been made public. In absence of the knowledge of the parameters, the employees feel directionless.
The “Statement of Intent” should be made public before the commencement of the financial year. In this context, we would like to draw your attention to the fact, that we are well past the half-yearly mark of the year 2011-2012, & the parameters have yet not been made public. We fail to understand the logic behind this.
We have been reiterating that the PLLI should be based on a single parameter i.e. Total Income. However, too many parameters have complicated the issue.
The payment of PLLI is calculated on the pre-revised annual pay of August 2007. We have time & again asked the logic behind the same. However, no convincing answers are forthcoming.
The payment of PLLI has been different for each office. This is nothing but dividing the employees & creating unrest. We reiterate our view that the percentage of PLLI should be uniform for all employees. It is difficult to quantify the performance of an individual employee in LIC. The contribution to the overall performance of LIC is from all the employees, wherever they work. Hence this criterion for payment should not be continued.
The objective of any Incentive scheme should be motivating the employees in putting in their best instead of demoralising them. As it is, due to the artificial & low ceilings, an overwhelming majority of the employees have been deprived of the bonus for years together. BMS has putting forth its view that bonus is nothing but deferred wages which is a cushion for inflation not taken care by the skewed DA formula. PLLI could have been our own answer to deferred wages & also an alternative to break away from the “bank pattern”. It still can be, if rational & reasonable suggestions from the employee organizations are heeded.
We request you to have a re-think of the whole issue of PLLI & consider our demand at the earliest.
The 14thExtended EC meeting of NOINO was held as scheduled at Delhi on 21st & 22nd November 2011. More than 150 delegates from all over the country attended the meeting. Representatives from far-flung areas like Srinagar & Silchar were present. 20 female officers attended the meeting. Following is the report of the meeting:-
21st November 2011
INAUGURAL SESSION
Shri C Sajinarayan, All India President, BMS graced the inaugural session. The meeting commenced with deep prajwalan, Vishwakarma poojan & Shramik geet.
Shri S K Saini, Zonal President, NOINO, NZ unit introduced the dignitaries on the dais. All the dignitaries were welcomed thereafter with bouquets. Shri Rajeev Sharma, Zonal Secretary, NOINO, NZ unit welcomed the delegates & submitted that the EC meeting of NOINO was very significant for the future of the officers in LIC.
As the General Secretary of NOINO, Shri Ganesh Kamath was late in attending the meeting (due to fog, trains were running late), Dr. S B Sharan, Working President of NOINO read out the key-note address of the GS. The key-note address while noting that NOINO is the fasted growing union in LIC, also took note of the grim economic situation at the International & National level. It also dwelt upon the set-back in business as well as renewal premium in LIC. The key-note address also pressed the need to keep the internal customers viz. the employees happy & lamented the slow pace of decision making of the management.
Office-bearers on the dais. From left to right: Shri S.K.Saini, Zonal President, NOINO NZ (host zone); Dr S.B.Sharan, Working President, NOINO; Shri Prakash Javadekar, President, NOINO; Shri G.Kamath, GS, NOINO; Shri R.K.Sharma, Zonal Secretary, NOINO NZ (host zone)
The delegates
Shri Saji Narayan, President, BMS addressing the delegates
Shri C Sajinarayan, All India President, BMS, expressed his happiness over the growth of NOINO. He exhorted the delegates to inculcate the patriotic culture of BMS. He took stock of the situation in the country & informed that paradoxically, India had the largest number of literate as well as illiterate people. We have a lop-sided job-less growth & the inflation is going out of control. The task ahead is stupendous & could be achieved only through perpetual vigilance & sustained struggle. He appealed to the delegates to come out of the mind-set where wages & allied benefits appear to be the be-all & the end-all & help the workers in the unorganized sector. He also asked the delegates to gather in full strength at the Morcha conducted by BMS on 23rd November 2011 against the economic policies of the UPA governme
The inaugural session concluded with vote of thanks by Shri Vishwas Shastri, Zonal Secretary, NOINO, WZ unit.
POST-LUNCH SESSION—21.11.11
REPORT OF GS & TREASURER
Shri Ganesh Kamath, GS, NOINO interacting with delegates
Shri Ganesh Kamath, GS, NOINO took stock of the situation & the activities of NOINO in the period February 2011 to October 2011. He informed the assembly that six new units were opened in this period viz. Amritsar, Srinagar, Karnal (NZ), Gorakhpur, Allahabad (NCZ) & Hyderabad (SCZ). He also gave an account of the discussions with the management & some achievements of NOINO during this period. Shri D V Aloni presented the Treasurer's report.
The session consisted of the Zonal Secretaries’ report which took stock of the membership drive in the month of October 2011, tour planning for opening of new units, activities in the Zone etc. The assembly noted with satisfaction that NOINO was growing everywhere & the officers were happy with our activities.
FORMATION OF CHARTER COMMITTEE
Shri Y N Murthy, PG1, Shimoga division, SCZ initiated the discussion. The Zonal Secretaries nominated some persons from their respective Zones. The following Charter Committee has been formed:-
1
C.T.Joshi
Retired(DM), Belgaum, SCZ
2
Y.N.Murthy
AAO (P), IT Dept., DO-Shimoga , SCZ
3
S.K. Saini
Manager(Admin), BO 116, DO Delhi Division-2, NZ
4
Pulak Kr Dey
Manager(Admin),BO Baruipur, DO , EZ
5
Anil Bhagdikar
AO, BO 97F, DO Nagpur, WZ
6
N.G. Avadhani
Faculty Member, STC, DO Dharwad, SCZ
7
Hari Somayaji
Asst. secretary, IT Dept., ZO SCZO Hyderabad
The above committee may be expanded, if necessary. The committee will meet at least twice before 23rd July 2012, the date on which NOINO will submit its charter. The Zonal Secretaries/Presidents will in the meanwhile ask the Divisional Secretaries/Presidents to solicit suggestions from members to make it a meaningful charter.
MEETING OF NATIONAL OFFICE-BEARERS
National office-bearers of NOINO met at . The meeting of National office-bearers consisted of two parts:-
1)Separate Zone-wise meetings were held by the General Secretary & the Working President. Various aspects of consolidation of the organization were discussed. A time-table for tours to divisions & AGM’s was drawn.
2)There-after, the meeting decided the following:-
a) Branch representatives will be appointed in every branch who will ;-
(i)Collect subscription.
(ii)Transmit information.
(iii)Interact with the Divisional secretary everyday.
b) There are office bearers who will be retiring shortly. Therefore, a list of succession is to be prepared well in advance.
c) (i) There will be an increase in subscription rate to Rs, 250.00 and enrolment fee to Rs. 10.00 from July 2012.
(ii) Life membership (with subscription for 10 years) will be introduced. The life membership would be Rs.2000/- up to June 2012 & 2500/- thereafter.
d) Signature campaign for one more pension option to be conducted from 20.12.2011 to 31.12.2011 for all classes of employees.
e) The next E.C. Meeting will be held at Indore on 04.06.2012 and 05.06.2012.
f) There will be strict adherence to discipline and code of conduct regarding attendance of office-bearers in EC meeting.
The day’s proceedings closed at
22.11.2011
The opening session was attended by Shri Pawankumar, BMS, in-charge, North Central India & Shri Udayrao Patwardhan, BMS, in-charge, financial institutions.
Shri Pawankumarji stressed the fact that BMS is a non-political organization. He talked about the growing acceptance of BMS ideals in all the fields. He also revealed that in a recent meeting Shri Gurudas Dasgupta, veteran CPI leader, said that for the first time in life he would raise the slogans of “Vande-Mataram” & “Bharat-mata ki Jai”. Though this change of heart was due to compulsions, the fact remained that people of diametrically opposite views to BMS were coming round to accept the ideals propagated by RSS/BMS. He also pointed out that though apparently LIC employees felt comfortable due to job security, social security (pension) etc., these conditions were also in jeopardy due to the present policies of the UPA government.
After the speech of Pawankumarji, the house unanimously passed the following resolutions after elaborate deliberation:-
PLLI :-
a) simplify the parameters—total income should be the sole parameter,
b) Quantum to be decided on post revision scale,
c) Uniform percentage to be paid to all.
2. Removal of anomalies in fixation specially for the officers promoted under 1(B).
3. Scrap DOPA.
4. Staff Housing loan portfolio to be brought back to LIC.
5. One more pension option.
6. Recruitment of Class III/IV employees.
7. Parity in Lease rent: Places adjoining metro cities should get commensurate lease rent.
Shri Udayrao Patwardhan, Financial institution-in-charge, was at his usual inspiring best. His speech was an informative, eye-opening & invigorating experience. He dwelt on the fundamental difference between BMS unions & leftist trade unions. While leftists do not believe in GOD, Capital & many other social institutions, BMS believes that we are an integral part of the society & we have to respect the social values & institutions.
He also took stock of the changing situation in LIC where over the years the focus has steadily shifted from the Assistant’s cadre to AAO/AO/ADM cadre. He also revealed that for the first time in the history of India, the President of India invited the representatives of BMS to discuss the issues raised through its morcha on 23rd November 2011. He exhorted the participants to heed the message of “The Best should suffer, so the rest may prosper” which means that the leaders should be ready for sacrifice. Only then our society can prosper.
Address by Working President Dr S B Sharan
Dr S.B.Sharan, Working President, NOINO presenting his views
Dr S B Sharan announced the decisions taken in the National Office-bearers’ meeting. His speech lifted the audience to a different & higher plane altogether. He stressed the need for Individual development & said that only men with high morals could cure the ills pervading the society & world. He said that the objectives of NOINO were progress of the nation, institution, organization (NOINO) as well as individual development. He further said that a child has three objectives viz. obligation towards its parents; towards its motherland & towards God. These objectives drive a person towards his responsibility towards family; his job & towards his social responsibilities. If one strikes a proper balance between these three responsibilities, life would be more fulfilling & meaningful. It is needless to emphasize that Social responsibility is the most important one which motivates us to work for our beloved organization, i.e. ., NOINO.
Address by General Secretary Shri Ganesh Kamath
Shri Ganesh Kamath talked on the practical aspects of organization. He stressed the need for consolidation of NOINO & said that short term targets need to be achieved instead of too much analysis & high targets. He said that discipline, honesty & transparency would take NOINO to greater heights.
CONCLUDING ADDRESS BY PRESIDENT SHRI PRAKASH JAVADEKAR
Shri Prakash Javadekar, President, NOINO {and also MP (Rajya Sabha) & Spokesperson (BJP)} joining the meeting
In his inimitable style, Javadekarji not only kept the audience in good humour, but also displayed great understanding of the smallest issues of the Class I Officers in LIC. He expressed active support to all Class I officers on all issues including the amendments to the Insurance Act & the LIC Act. It is pertinent to note that Javadekarji has been in the forefront in opposing the regressive amendments.
He said that a strong opposition has been registered on the following points:-
1.Permission of the Insurance regulatory authority for opening new Branches of LIC.
2.Reducing the percentage of surplus from 95% to 90% to be distributed among the policy holders towards Bonus.
3.Increasing the initial Capital of Rs. 5 crore to 100 crore.
4.Withdrawal of Sovereign guarantee from LIC.
It is pertinent to note that the Standing committee has rejected most of the regressive amendments & most of the credit should go to the support given by Javadekarji to the struggle by NOINO/NOIW/NOIP against these amendments.
The delegates
The vote of thanks was given by Shri Rajiv Sharma, Zonal Secretary, NOINO, NZ unit.The meeting ended with Sampoorna Vandemataram by Shri Gopal Joshi.
