AGI Investment Advisory Committee meets
The 36th meeting of the Investment Advisory Committee (IAC) of the Army Group Insurance Fund (AGIF) was held here today. Gen JJ Singh, Chief of the Army Staff inaugurated the meeting, which is being chaired by Lt Gen AS Jamwal, Adjutant General.
Among those who attended the meeting were Lt Gen S Pattabhiraman, Vice Chief of the Army Staff, all the Army Commanders, Principal Staff Officers at Army HQ and other senior officers.
Shri Dipankar Basu, Ex Chairman SBI and Non Executive Chairman, STCI and Sun F & C AMC, Shri S M Dutta, Ex Chairman, Hindustan Lever, Shri C D Khanna, Ex Chairman, IFCI Ltd, Shri P G Mankad, IAS(Retd), Ex Counsellor (Economic) in the Indian Embassy, Tokyo; Former Controller of Capi! tal Issues, Min of Finance; Ex Fin Secy, Govt of India, and Ex Executive Director for India and Board Member, Asian Development Bank, Manila, Shri SS Marathe, Ex Economic Advisor to the Govt of India, Ex Secretary to Govt of India, Ministry of Industry and Ex Chairman Bureau of Industrial Costs and Prices, Shri M Narasimham, Ex Governor, Reserve Bank of India and Chairman, Adm Staff College of India, Shri Deepak S Parekh, Chairman, HDFC Ltd; Member Govt of India Investment Committee, Member of Governing Board of NCAER and Administrative Staff College of India, Chairman of Bu! rroughs Welcome, Glaxo India, HDFC AMC, IDFC and IL & FS, Shri J S Salunkhe, Ex Chairman, LIC of India, Shri G N Bajpai, Ex Chairman LIC and SEBI & Ex President , Insurance Institute of India and Shri S P Talwar, Ex Deputy Governor of RBI , Ex Chairman & MD of Bank of Baroda, UBI , OBC and former Chairman of RBI Services Board were among the Investment Advisory Committee members who attended the meeting.
Army Group Insurance Fund (AGIF) was established in Jan 1976 as a Group Insurance Society. The Army Group Insurance has completed 30 years of its dedicated service to the present and past members of the Indian Army and their dependents. Starting with two schemes in 1976, it operates 16 schemes at present and covers approx 18 lac serving and former members and their dependents! . The scheme also provides disability benefit for eligible members and post retirement Extended Insurance. This is a self sustaining venture managed entirely out of the monthly subscription paid by the Army Personnel.
The IAC Members provide expert advice in an honorary capacity on AGIF investments and fund management. The meeting reviewed the present economic scenario, the ongoing ec! onomic reforms in the country, and resultant implications and their impact on AGIF investment.
Since inception of AGI, 18, 68,578 claims have been processed and an amount of Rs. 6357.27 crores disbursed as payments.
VKJ/RKJ/KVA
(Release ID :14679)