Saturday 12 September 2015

Empowered agents-Facility of Net Banking

To
All  Empowered Agents,
 
RE: Facility of Net Banking.
 
The premium collected at the premium point is to be remitted to the LIC within 48 hours.
 At present there are following 3 ways to remit.
 
1)    Deposit at LIC Branch Cash Counter.
2)    Cash Deposit to be remitted in Axis Bank Branch or Corporation Bank Branch.
3)    Transfer of fund from the account of empowered agent to LIC’s Account
    through net banking in authorized Banks.
 
Now IRDA has issued instructions that the premium collected by authorized agents is to be remitted within 24 hours.  So it is important that the mode of remittance has to be quick and fast. 
 
Since the remittance is to be made within 24 hours with effect from 1st October 2015, as per IRDA guidelines, you are hereby advised to use net banking facility for cash transfer.  We may inform you that as soon as you transfer the money through net banking, your cash limit will be restored.
 
Net Banking Guide is already available in your portal.  For any assistance, please contact your Branch Manager/Manager(CLIA) and operationalise transfer of premium collected through net banking with immediate effect.
                                                                     
EXECUTIVE DIRECTOR (MKTG/CLIA) 

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