agriculture insurance new final.docx

8/19/2019 AGRICULTURE INSURANCE NEW FINAL.docx

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VIVEK COLLEGE OF COMMERCE

CHAPTER

INTRODUCTION OF AIC INDIA LIMITED

Agriculture Insurance Company o In!ia Limite! (AIC) offers yield-based

and weather-based cro ins!rance ro"ra#s in al#ost $%% districts of India& It

co'ers al#ost % #illion far#ers #a*in" it the bi""est cro ins!rer in the

world in n!#ber of far#ers ser'ed& +"ric!lt!re Ins!rance Co#any of India

Li#ited is a li#ited co#any head,!artered o!t of ew .elhi India /01

+IC ai#s to ro'ide ins!rance co'era"e and financial s!ort to the far#ers in

the fail!re of any of the notified cro as a res!lt of nat!ral cala#ities ests and

diseases to restore their creditworthiness for the ens!in" season2 to enco!ra"e

the far#ers to adot ro"ressi'e far#in" ractices hi"h 'al!e in-!ts and

hi"her technolo"y2 to hel stabili3e far# inco#es artic!larly in disaster years&

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https://en.wikipedia.org/wiki/Agricultural_insurance_in_Indiahttps://en.wikipedia.org/wiki/Agriculture_Insurance_Company_of_India#cite_note-AIC-1https://en.wikipedia.org/wiki/Farmershttps://en.wikipedia.org/wiki/Agriculture_Insurance_Company_of_India#cite_note-AIC-1https://en.wikipedia.org/wiki/Farmershttps://en.wikipedia.org/wiki/Agricultural_insurance_in_India


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5he lan ro'ides co#rehensi'e ris* ins!rance for yield losses d!e to nat!ral

fire and li"htnin" stor#s hailstor#s cyclone tyhoon te#est h!rricane

tornado flood in!ndation landslide dro!"ht dry sells ests7diseases etc&/0

CHAPTER

PROFILE OF AIC

Agriculture Insurance Company o In!ia Limite! "AIC# has been for#ed at

the behest of Go'ern#ent of India conse,!ent to the anno!nce#ent by the then

8on9ble 4nion Finance Minister in his General :!d"et 6eech F; %%-%< that

=to s!bser'e the needs of far#ers better and to #o'e towards a s!stainable

act!arial re"i#e it was roosed to set ! a new Cororation for +"ric!lt!re

Ins!rance=&

+IC has ta*en o'er the i#le#entation of ational +"ric!lt!ral Ins!rance

6che#e (+I6) which !ntil F; %%-%< was i#le#ented by General

Ins!rance Cororation of India& In addition +IC also transacts other ins!rance

b!sinesses directly or indirectly concernin" a"ric!lt!re and its allied acti'ities&

$%are Capital

+!thorised 6hare Caital - Rs& 0$%% Crores

>aid-! 6hare Caital - Rs& %% Crores

Promoters "$%are Hol!ing#

General Ins!rance Cororation of India -


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ational Ins!rance Co#any Li#ited - @&A$ ?

5he ew India +ss!rance Co#any Li#ited - @&A$ ?

5he Oriental Ins!rance Co#any Li#ited - @&A$ ?

4nited India Ins!rance Co#any Li#ited - @&A$ ?

$igniicant Dates

Incororation - %th .ece#ber %%

Co##ence#ent of :!siness - 0st +ril %%<

Registere! Oice an! Hea! &uarters 0= 0 Kast!rba Gandhi Mar" ew .elhi - 00% %%0

I.I+

>h& o D %00-@@%%

Fa o D %00-@@0$ E-Mail D aichoHaicofindia&co#

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CHAPTER

INCORPORATION AND COMMENCEMENT OF 'U$INE$$

+IC was incororated on % .ece#ber %% with an a!thori3ed caital of Rs&

0$%% crore& 5he initial aid-! caital was Rs& %% crores which was s!bscribed

by the ro#otin" co#anies General Ins!rance Cororation of India GIC

(


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CHAPTER

COMPAN()$ *I$ION + MI$$ION

COMPAN()$ *I$ION

+ccelerate the econo#ic #o#ent!# of the ation by brin"in"

financial

stability to r!ral India&

inno'ate and de'elo r!ral-oriented and far#er-friendly ins!rance

rod!cts for all a"ric!lt!ral allied ris*s&

Cast a rotecti'e net o'er a"ric!lt!ral and allied acti'ities fro# nat!ral

erils

and ris*s&

COMPAN()$ MI$$ION

+"ric!lt!ral ins!rance rod!cts be desi"ned and de'eloed on scientific

basis

and so!nd ins!rance rinciles to address di'erse needs of far#ers2

I#ro'e deli'ery and ser'ice of a"ric!lt!ral ins!rance so as to brin" the

re#otest and oorest far#er !nder its !#brella in an econo#ical and

effecti'e

#anner2

Create widesread awareness abo!t a"ric!lt!ral ins!rance as the rincial

ris*

#iti"ation tool and th!s establish it as an effecti'e b!lwar* of the r!ral

econo#y

CHAPTER

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COMPAN()$ ACTI*ITIE$

+"ric!lt!re and allied ins!rance rod!cts ins!rin" #ore than


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MANA,EMENT OF AIC OF INDIA- LTD-

$ No- Name Designation

06h&>laallil oseh

oseh

Chair#an-c!#-Mana"in" .irector J Chief

Eec!ti'e Officer

6h&Malay K!#ar >oddar General Mana"er J Chief of Internal +!dit

< 6h& Raee' Cha!dhary General Mana"er J Chief Ris* Officer

6h& +'inanda Ghosh General Mana"er J Chief Finance Officer

$ 6h& Ra#al 6in"h Rawat Chief Mana"er J Chief In'est#ent Officer

6h& +ay 6in"hal Chief Mana"er J Chief Mar*etin" Officer

A 6h& 6!*anta Roy

Chowdh!ry Mana"er J Chief Co#liance Officer

@ 6#t& Me"ha Gar" +ointed +ct!ary

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CHAPTER

CROP IN$URANCE

'ac.groun! an! early attempts at Crop Insurance

Cro ins!rance as a concet for ris* #ana"e#ent in a"ric!lt!re has e#er"ed in

India since the t!rn of the twentieth cent!ry& Fro# concet to i#le#entation it

has e'ol'ed soradically b!t contin!o!sly thro!"h the cent!ry and is still

e'ol'in" in ter#s of scoe #ethodolo"ies and ractices&

India is an a"rarian co!ntry where the #aority of the o!lation deends on

a"ric!lt!re for their li'elihood& ;et cro rod!ction in India is deendent

lar"ely on the weather and is se'erely i#acted by its 'a"aries as also by attac*

of ests and diseases& 5hese !nredictable and !ncontrollable etraneo!s erils

render Indian a"ric!lt!ral and etre#ely ris*y enterrise& It is here that cro

ins!rance lays a i'otal role in anchorin" a stable "rowth of the sector&

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CHAPTER

DIFFERENT T(PE$ OF CROP IN$URANCE $CHME$

FIR$T E*ER CROP IN$URANCE $CHEME / 0123

Fro# be"innin" of the se'entys decade different eeri#ents on cro

ins!rance were !nderta*en on a li#ited ad-hoc and scattered scale& 5he first

cro ins!rance ro"ra# was introd!ced in 0A-A< by the NGeneral Ins!rance

.eart#ent of Life Ins!rance Cororation of India on 8- cotton in G!arat&

Later the newly set ! General Ins!rance Cororation of India too* o'er the

eeri#ental sche#e and s!bse,!ently incl!ded Gro!ndn!t heat and >otato

and i#le#ented in the states of G!arat Maharashtra 5a#il ad! +ndhra

>radesh Karnata*a and est :en"al&

5his eeri#ental sche#e was based on =Indi'id!al +roach=& It contin!ed

!to 0A@-A and co'ered only


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CHAPTER

PILOT CROP IN$URANCE $CHEME "PCI$# / 0121

>rofessor V& M& .ande*ar often referred to as the BFather of Cro Ins!rance in

India s!""ested an alternate B8o#o"eneo!s +rea aroach for cro

ins!rance in the #id-se'enties&

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:ased on this +rea aroach the General Ins!rance Cororation of India (GIC)

introd!ced a >ilot Cro Ins!rance 6che#e (>CI6) fro# 0A& >articiation by

the 6tate Go'ts& was 'ol!ntary& 5he sche#e co'ered cereals #illets oilseeds

cotton otato "ra# and barley& 5he ris* was shared by GIC and the resecti'e

6tate Go't& in the ratio of D0& 5he ins!rance >re#i!# ran"ed fro# $ to 0% er

cent of the 6!# Ins!red&

5his >CI6 ran till 0@-@$ by which 0< 6tates had articiated& 5he sche#e

co'ered &A la*h far#ers for a >re#i!# of 0&A crore a"ainst Clai#s of 0&$A

crore&

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CHAPTER

COMPREHEN$I*E CROP IN$URANCE $CHEME "CCI$# /

0145

:ased on the learnin"s fro# >CI6 the Co#rehensi'e Cro Ins!rance 6che#e

(CCI6) was introd!ced with effect fro# 0st +ril 0@$ by the Go'ern#ent of

India with the acti'e articiation of 6tate Go'ern#ents& 5he 6che#e was

otional for the 6tate Go'ern#ents& 5he CCI6 was i#le#ented on

8o#o"eneo!s +rea aroach and was lin*ed to short-ter# cro credit that is

all cro loans "i'en for notified cros in notified areas were co#!lsorily

co'ered !nder the CCI6&

5he salient feat!res of the 6che#e wereD

0& It co'ered far#ers a'ailin" cro loans fro# Financial Instit!tions for

"rowin" food cros J oilseeds on co#!lsory basis& 5he co'era"e was

restricted to 0%%? of cro loan s!bect to a #ai#!# of P 0%%%%7- er

far#er&

& 5he >re#i!# rates were ? for Cereals and Millets and 0? for >!lses and

Oil seeds& $%? of the >re#i!# ayable by 6#all J Mar"inal far#ers was

s!bsidi3ed by Central and 6tate Go'ern#ents in e,!al roortion&

re#i!# J Clai#s were shared by Central J 6tate Go'ern#ent in D0

ratio&

& 5he 6che#e was otional to 6tate Go'ern#ents&

$& 5he #ai#!# 6!# Ins!red was 0%%? of the cro loan which was later

increased to 0$%?&

& CCI6 was a #!lti-a"ency sche#e in'ol'in" Go'ern#ent of India

.eart#ents of 6tate Go'ern#ents :an*in" Instit!tions and GIC&

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0$ 6tates and 45s had articiated in the CCI6 d!rin" its ten!re fro#

Kharif 0@$ to Kharif 0& 5hese were +ndhra >radesh +ssa# :ihar Goa

G!arat 8i#achal >radesh Karnata*a Kerala Madhya >radesh

Maharashtra Me"halaya Orissa 5a#il ad! 5ri!ra est :en"al

+nda#an J icobar Islands and >ondicherry&

5he 6tates of Raasthan4ttar>radesh a##! J Kash#ir Mani!r and .elhi

had initially oined the 6che#e b!t oted o!t after few yearIn this entire eriod

the 6che#e co'ered A&< crore far#ers !nder an area of 0&A crore hectares

for a 6!# Ins!red of crore at a re#i!# of %


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CHAPTER

E6PERIMENTAL CROP IN$URANCE $CHEME "ECI$# / 0112

hile the CCI6 was bein" i#le#ented atte#ts were #ade to #odify the

eistin" CCI6 fro# ti#e to ti#e as de#anded by the 6tates& .!rin" the Rabi

0A-@ season a new sche#e 'i3& Eeri#ental Cro Ins!rance 6che#e

(ECI6) was introd!ced in 0 districts of $ 6tates& 5he 6che#e was si#ilar to

CCI6 ecet that it was #eant only for all s#all 7 #ar"inal far#ers with 0%%?

s!bsidy on >re#i!#& 5he >re#i!# s!bsidy and Clai#s were shared by the

Central and resecti'e 6tate Go'ern#ents in the ratio of D 0& 5he 6che#e was

discontin!ed after one season d!e to its #any ad#inistrati'e and financial

diffic!lties&

.!rin" its one season the ECI6 co'ered $$$$ far#ers for a 6!# Ins!red

of 0@&00 crore at a >re#i!# of &@ crore a"ainst which the Clai#s aid

were


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CHAPTER

PILOT $CHEME ON $EED CROP IN$URANCE "P$$CI# / 3777

+ >ilot 6che#e on 6eed Cro Ins!rance (>66CI) was introd!ced in Kharif %%%

season in 00 6tates to ro'ide financial sec!rity J inco#e stability to the 6eed

Growers in the e'ent of fail!re of seed cro& It was also the obecti'e to ro'ide

stability to the infrastr!ct!re established by the 6tate owned 6eed Cororations

and 6tate Far#s and to "i'e a boost to the #odern seed ind!stry by brin"in" it

!nder scientific rinciles& +ll seed-rod!cin" or"ani3ations !nder Go't& or

ri'ate control rod!cin" certain classes of seed for identified

Cros76tates7+reas were eli"ible& +ll far#ers "rowin" the Fo!ndation J

Certified seed cros in the identified 6tates 7+reas who had offered the seed

cro for certification and had "ot re"istered with the concerned Certification

+"ency were eli"ible for co'era"e&

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CHAPTER

FARM INCOME IN$URANCE $CHEME "FII$# / 3778

+I6 rotects the far#ers only a"ainst the yield fl!ct!ations& 5he rice

fl!ct!ations are o!tside the !r'iew of this sche#e& Far#ers inco#e is a

c!#!lati'e f!nction of yield and #ar*et rices& In other words a b!#er

har'est tends to brin" down the #ar*et rices of "rains and 'ice 'ersa&

5herefore desite nor#al rod!ction far#ers often fail to #aintain their

inco#e le'el d!e to fl!ct!ations in #ar*et rices& 5o ta*e care of 'ariability in

both the yield and #ar*et rice the "o'ern#ent introd!ced a ilot roect 'i3&

Far# Inco#e Ins!rance 6che#e (FII6) d!rin" Rabi %%rice (M6>)&

FII6 was i#le#ented on the basis of Nho#o"eneo!s area aroach in resect

of rice and wheat cros only& 5he sche#e was co#!lsory for loanee far#ers

and 'ol!ntary for non-loanee far#eP 5he re#i!# rates were act!arial

deter#ined for each 6tate at the .istrict le'el to be s!bsidised by the Go't& of

India&

Clai#s wo!ld arise if the act!al inco#e (c!rrent yield Q c!rrent #ar*et rice)

was lower than the "!aranteed inco#e (A years a'era"e yield Q le'el of

inde#nity /@%? or %?1 Q M6>)&

5he 6che#e was i#le#ented d!rin" seasons only 'i3& Rabi %%


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.istricts of 6tates for rice alone& In all the sche#e co'ered &0$ la*h far#ers

for an area of &% la*h hectares for a 6!# Ins!red (i&e& "!aranteed inco#e)

of %crore collectin" a re#i!# of @&$ crore and aid clai#s of @&A$ crore&

From Ra9i 0111 season: t%e CCI$ ;as !iscontinue! an! replace! 9y t%e

National Agriculture Insurance $c%eme "NAI$#: ;%ic% is 9eing

implemente! to !ate as t%e lags%ip yiel! 9ase! crop insurance program o

t%e ,o


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CHAPTER

ROLE OF *ARIOU$ A,ENCIE$=

"A#- ROLE + RE$PON$I'ILITIE$ OF FINANCIAL

IN$TITUTION$ "FIs# =

For the !rose of the 6che#e the 6ched!led Instit!tions en"a"ed in disb!rsin"

6+O loans as er the rele'ant "!idelines of +:+R. 7 R:I will be rec*oned

as Financial Instit!tions&

Each sched!led Co##ercial ban* shall with conc!rrence of I+ fi odal oints

which wo!ld deal with I+ on behalf of branches in the di'ision 7 district 7 state&

5he odal oints for Co##ercial ban*s will be #ini#!# one le'el abo'e the

:ranch office& 5he odal oints for Cooerati'e ban*s will be .CC :an*s and

those for RR:s their 8ead Office&

odal >oints o!ld :e .esi"nated For I#le#entation +nd 5hese :an*s

o!ld +ttend 5o 5he Followin" F!nctionsD

0& On receit of the co##!nication on notification of cros and areas fro#

the 6tate Go't&7 45 the odal ban*s will co##!nicate the sa#e to the branch offices !nder their control&

& 5he FIs wo!ld ad'ance additional loan to Loanee far#ers to #eet

re,!ire#ent of Ins!rance char"es 7 re#i!# as alicable !to the etent

of cro loan&


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rescribed for#at alon" with Ins!rance char"es ayable on all cro loans

co#in" !nder the !r'iew of the 6che#e in case of Loanee far#ers and

based on >roosals recei'ed in case of other far#ers&

& 5he +e FIs shall iss!e aroriate instr!ctions to odal ban*s as well

as cro loan disb!rsin" branches to ens!re s#ooth f!nctionin" of the

6che#e&

$& For ins!rable cro loans disb!rsed !nder Kissan Credit Card (KCC) the

FIs shall #aintain all controls and records as

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CHAPTER

OTHER RE$PON$I'ILITIE$ OF FI$ >ILL 'E=

5o ed!cate the far#ers on the 6che#e feat!res&

5o "!ide the far#ers in filin" the roosal for#s and collectin" the

re,!ired doc!#ents&

Followin" the "!idelines while disb!rsin" cro loans and ens!rin"

roer end-!se of loan disb!rsed&

5o reare the consolidated state#ents for Loanee and on-Loanee

#e#bers forwardin" the sa#e to the branch alon" with the re#i!#

a#o!nt

Maintainin" the records of roosal for#s other rele'ant doc!#entsstate#ents for the !rose of 'erification by the district co##ittee or

reresentati'e of the ins!rer&

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$PECIAL CONDITION$ FOR FI$ ? NODAL 'AN@$ ? LOAN

DI$'UR$IN, POINT$=

0& FIs will s!b#it Cro Ins!rance .eclarations to I+ on #onthly basis

where s!# ins!red is on the basis of a#o!nt of loan disb!rsed and within

one #onth ti#e fro# c!t-off date for receit of roosals where s!#ins!red is on any other basis&

& Clai#s recei'ed by the odal oints will be re#itted to indi'id!al

branches7>+C6 with all artic!lars within se'en days and these

branches7>+C6 will in t!rn credit the +cco!nts of beneficiary far#ers

within se'en days& 5he list of beneficiary far#ers with clai# a#o!nt will

be dislayed by the branch 7 >+C6&


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& In case a far#er is deri'ed of any benefit !nder the 6che#e d!e to errors

7o#issions7 co##issions of the odal :an*7:ranch7>+C6 the concerned

instit!tions only shall #a*e "ood all s!ch losses&

A& If the far#er is adotin" #ied croin" the s!# ins!red of a cro

sho!ld be on the basis of it9s roortionate area&

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CHAPTER

"'#- ROLE + RE$PON$I'ILITIE$ OF $TATE ,O*ERNMENT

UT ADMINI$TRATION=

0& 5he 6tate Go'ern#ent 7 45 will notify cro wise notified areas and

re#i!# rates as alicable (in case of co##ercial7hortic!lt!ral cros)

well in ad'ance of each cro season&

& 5he 6tate Go'ern#ent 7 45 ad#inistration wo!ld in ad'ance ro'ide to

the I+ 4nit +rea-wise yield data of i##ediate ast 0% years for all cros

notified !nder the 6che#e&


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$& 5he 6tate 7 45 ad#inistration will release it9s contrib!tion to Cor!s

F!nd as er the scale and dates fied by MO+ the Go'ern#ent of India&

& 5he 6tate 7 4nion 5erritory ad#inistration wo!ld ens!re that Cro

Esti#ation 6!r'eys (CE6) in "eneral and esti#ation roced!res in case

of #!ltile ic*in" cros in artic!lar be stren"thened in order to f!rnish

acc!rate esti#ates of yield& F!rther the 6tate 7 45 ad#inistration will

assist I+ in assessin" the etent of cro loss of indi'id!al ins!red far#ers

d!e to oeration of localised erils&

A& 5o set ! 'ario!s #onitorin" Co##ittees as re,!ired&

@& 5he final ;ield data in the standard for#at for all 4nit +reas for notified

cros for the cro season will be f!rnished to I+ within the sti!lated

date&

& In case the 6tate 745 ad#inistration fail to f!rnish yield data based on

re,!isite n!#ber of CCEs or fail to f!rnish yield data within the

sti!lated date resonsibility of s!ch clai#s if any arisin" o!t of s!ch

data will totally rest with 6tate 7 45 ad#inistration&

0%&5he I+ will be allowed !nrestricted access to records of CCEs at "rass

root 7 .istrict 7 6tate le'el&

00&6tate Go'ern#ent 7 45 +d#inistration shall set ! .istrict Le'el

Monitorin" Co##ittee (.LMC) headed by the .istrict Ma"istrate& 5he

#e#bers will be .istrict +"ric!lt!re Officer .CC: Lead :an*

reresentati'e and I+& 5he co##ittee will #onitor i#le#entation of

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6che#e by ro'idin" fortni"htly cro condition reorts and eriodical

reorts on seasonal weather conditions loans disb!rsed etent of area

c!lti'ated etc& 5he .LMC shall also #onitor cond!ct of CCEs in the

district&

0& +s the 6che#e is otional to on-loanee far#ers ade,!ate !blicity

will be ro'ided to ens!re #ai#!# co'era"e of far#ers thro!"h all

#eans a'ailable at the disosal of 6tate 7 45 ad#inistration

CHAPTER

"C#- ROLE AND RE$PON$I'ILITIE$ OF THE

IMPLEMENTIN, A,ENC( "IA#=

0& I#le#entin" +"ency of the 6che#e&

& 5he I+ shall oen searate +cco!nts to deal with Cor!s F!nd and also

re#i!#s recei'ed !nder the 6che#e&

rofessional a"ency&

& 4nderwritin" and Clai#s finali3ation&

$& Resonsibility for clai#s to the etent #entioned in the 6che#e&

& e"otiatin" Re-ins!rance arran"e#ent in the international #ar*et&

A& Co-ordination in or"ani3in" trainin" awareness !blicity ro"ra##es&

@& >ro'idin" ret!rns 7 statistics to the Go'ern#ent of India&

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& Ea#inin" and elorin" ossibilities of settin" ! searate a"ency for

i#le#entation of the 6che#e&

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CHAPTER

NATIONAL A,RICULTURE IN$URANCE $CHEME

(Rashtriya Krishi :i#a ;oana - RK:;)

O9ectire#i!# Rates

A& >re#i!# 6!bsidy

@& 6harin" of Ris*

& +rea +roach and 4nit of Ins!rance

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+GRIC4L54RE I64R+CE

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0%& 6easonality .isciline

00& Esti#ation of Cro ;ield

0& Le'els of Inde#nity J 5hreshold ;ield

0


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CHAPTER

,RIE*ANCE REDRE$$AL POLIC( B,RP

I- RE,ULATOR( RE&UIREMENT

+ccordin" to 6ection $ of the Ins!rance Re"!latory and .e'elo#ent +!thority

(>rotection of olicyholders9 interests) Re"!lations %% e'ery ins!rer shall

ha'e in lace roer roced!res and effecti'e #echanis# to address co#laints

and "rie'ances of olicyholders efficiently and with seed&

II& .EFII5IO6

0& 9Grie'ance9 shall #ean any written co##!nication by a Co#lainant that

eresses dissatisfaction abo!t an action or lac* of action by or abo!t the

standard of ser'ice of the Co#any and7or its reresentati'e in relation to

his7her ins!rance co'era"e by the Co#any&

Ill!strationsD >olicy iss!ance (e&"& non-iss!ance delay) >re#i!# ref!nd (e&"&

ad#issibility ,!ant!# delay) Clai#s (e&"& ad#issibility ,!ant!# delay)etc&

& 9Co#any9 shall #ean +"ric!lt!re Ins!rance Co#any of India Li#ited

/+IC1


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& 9Redressal9 shall #ean the final disosal of the Grie'ance thro!"h

co##!nication to the Co#lainant (in case of non-redressal statin" reasons for

the sa#e)&

$& 9Re"!lator9 shall #ean the Ins!rance Re"!latory and .e'elo#ent +!thority/IR.+1&

& 9or*in" .ay9 shall #ean any day (other than 6at!rday 6!nday or >!blic

8oliday) on which the Co#any is oen for b!siness&

A& 9ee*9 shall #ean consec!ti'e se'en or*in" .ays&

III- ,RIE*ANCE REDRE$$AL $ET/UP OF AIC

0& Chief Grie'ance Redressal Officer /CGRO1 - a desi"nated Officer at 8O as

the reresentati'e of the Co#any for its Grie'ance Redressal >olicy /GR>1

& Grie'ance Redressal Officer /GRO1 - a desi"nated Officer at 8O and each

RO as the i#le#entin" officer of GR> at the resecti'e office


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OFFI

CE

OFFIC

E

OFFIC

ER

LE*EL

RE$PON$'ILITIE$ NOMINATIN

,,

AUTORIT(

C,R

O

HO NOT

'ELO

>

$CALE

*I

Reresentati'e of the Co#any

for its Grie'ance Redressal

>olicy /GR>1

+ellate +!thority for the

Grie'ance cases&

5o arise the :oard and

other

+!thorities abo!t the

Co#any9s GR

CMD

,RO HO NOT

'ELO

> I*

I#le#entation and

co#liance of

the Grie'ance Redressal >olicy at the

resecti'e office& 5o reort to CGRO

eriodically abo!t the GR stat!s at

the

resecti'e office&

C,RO

RO AN(

OFFIC

ER

5o s!""est7reco##end to CGRO

6yste#ic a#end#ents if any with a

'iew to

#ini#i3e the incidence of

34

+GRIC4L54RE I64R+CE


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CHAPTER

*- ,RIE*ANCE REDRE$$AL PROCEDURE

0& + Grie'ance #ay be co##!nicated by the Co#lainant to the Co#any

/GRO1 in writin" thro!"h ost e-#ail fa ersonal s!b#ission etc& In case

of ersonal s!b#ission a recei'in" si"nat!re is necessary&

& 4on receit of a Grie'ance the GRO shall enter the details thereof in the

Grie'ance Redressal Re"ister /GRR1&


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A& If the Grie'ance has still not been redressed at the le'el of the GRO by the

end of @ (ei"ht) ee*s of its receit the #atter can be escalated to +eal by

the Co#lainant before the CGRO&

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+GRIC4L54RE I64R+CE


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CHAPTER

*I- APPEAL

0& 5he +ellate +!thority !nder GR> shall be the CGRO&& + Co#lainant #ay escalate the Grie'ance to +eal in the followin"

Circ!#stancesD

0& If the Co#lainant has not recei'ed any of the #andated

co##!ni,!s (as

er cla!ses < and of 6ection V) within (two) ee*s of the #andated

ti#e

& Li#its& b) If the Grie'ance has not been redressed at the le'el of the GRO

by the end of @ (ei"ht) ee*s of its receit&

$& c) If the Co#lainant is not satisfied with the Redressal of Grie'ance by

theGRO&

& +n +eal can be referred in writin" within 0 (twel'e) ee*s fro# the

date of co##!nication of the Grie'ance to the Co#any& It is ab!ndantly

clarified here that beyond this ti#e li#it the Co#lainant shall lose his

ri"ht to +eal and the Grie'ance shall be dee#ed to ha'e been closed&

A& 5he +ellate +!thority (CGRO) shall decide the +eal (and th!s close

the Grie'ance) within (fo!r) ee*s of receit of +eal (in case of non-

Redressal statin" reasons for the sa#e)& 5his final decision shall be

co##!nicated to the Co#lainant by the CGRO&

@& 5he decision of the +ellate +!thority (CGRO) shall be final and shall

close the Grie'ance& 5o this end the +ellate +!thority shall be "!ided

by the rinciles of nat!ral !stice fair lay and e,!ity while decidin" the

+eal&

& +ny Grie'ance escalated to +eal shall be a!to#atically (online)

reorted to the Re"!lator thro!"h inte"ration of the Co#any9s I5 syste#with that ofthe Re"!lator& 5ill s!ch ti#e as a s!itable I5 syste# is

37

+GRIC4L54RE I64R+CE


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de'eloed the CGRO shall eriodically reort to the Re"!lator the

endin" +eal cases&

0%&

00&

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+GRIC4L54RE I64R+CE


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CHAPTER

*II- FINAL REDRE$$AL AND CLO$URE OF ,RIE*ANCE

0& + Grie'ance shall be treated as finally redressed and7or closed in any of

thefollowin" circ!#stancesD

a) here the Co#lainant has indicated in writin" his7her accetance of the

Co#any9s Redressal of Grie'ance&

b) here the Co#lainant has not referred an +eal within 0 (twel'e)

ee*s fro# the date of co##!nication of the Grie'ance to the Co#any&

c) here the +eal decision has been co##!nicated to the Co#lainant by

the CGRO&

& 5he final Redressal and clos!re of Grie'ance shall be co##!nicated to the

Co#lainant by the GRO concerned (in +eal cases by the CGRO)&

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+GRIC4L54RE I64R+CE


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CHAPTER

*III- RE*IE> AND REPORTIN,

0& 5he GRO shall eriodically s!b#it an analytical reort to the CGRO in a

rescribed for#at (rescribed by CGRO fro# ti#e to ti#e) in resect of

Grie'ance Redressal stat!s&

& 5he GRO #ay s!""est7 reco##end to the CGRO syste#ic a#end#ents if

any with a 'iew to #ini#i3in" the incidence of Grie'ance&


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