Telangana Govt has issued GO 409 accorded permission through Corporate Internet Banking (CINB) for payments to be made in respect of claim to policy holders of TGLI . Before bifurcation of the state it is called as APGLI. Previously as per GO 83 has constituted a committee to study the problems relating to the TGLI. The committee had studied the possibilities of simplifying the procedures and steps to ensure proper functioning to extend reliable service to the TGLI holders.
After careful study made by the constituted committee and submitted a detailed report on TGLI, and recommended to the Director of Insurance to perform Loans and Claims through Online Payments through the NEFT to the TGLI Policy Holders as per the procedure laid down .
The Director of Insurance has made payments towards sanction of loan and settlement of claim to the Policyholders through NEFT as per procedure on trial and check basis which was proved successful and observed that it gaves good results. After examining the experience and results of this procedure of payments it has been implemented in all remaining Telangana District Insurance. The payments which are being made by Online was successfully to the policyholders irrespective of their Accounts . The system is taking nearly three days to adjust the amount to the concerned Accounts of policy holders. To avoid such delay and making quick and easier payments to the policy holders, the TGLI department had adopted the system of Corporate Internet Banking (CINB)which is very quicker, reliable and easier for making such payments. Keeping in view of the easy procedure in CINB procedure, The Director of Insurance has requested the Telangana Government to accord permission
for implementation of the CINB system in the for loan and settlement of claim in TGLI.
Keeping in view to extend fast and reliable solution for policy holders of TGLI, the Govt has accorded the permission to Director of Insurance to make the payments of Loans and Claims to the Policy Holders through the CINB system.