PAYMENT process of commission to LIC agents be made transperent.

[ambrish.p]

PAYMENT process of commission to LIC agents be made transperent.

The matter that has come to the fore through this RTI application assumes
significance in larger public interest where it has become evident that at least in some
branch offices of the Company, agency Commission is wrongly being released in a
very non transparent manner to insurance agents who have not sold the particular
insurance products thereby, causing unjustified outflows from the public monies of the
public sector company. At a national level, this amount is likely to be fairly large and it
is imperative to immediately put a stop to this financial impropriety by making the
functioning of the public authority in the matter of issuing of disbursement vouchers,
more transparent. Therefore in exercise of the powers given to the Commission under
section 19 (8) (a) (iii) Commission requires the CMD of the United India Insurance
Company Limited to direct all its Regional Offices, Divisional Offices, Branch Offices
etc to make the system of release of Agency Commission more transparent by
providing the policy numbers for which the Commission is being released, on the
agency Commission bills and discharge vouchers.

11. The present matter is referred to the Chief Vigilance Officer of the company for
appropriate action.

http://www.rti.india.gov.in/cic_deci...18_M_82286.pdf

Full credit to Karira Sir.