Sanction of the PLI Claim amount:
This is regarding doing away with the requirement of obtaining the signature of a witness on System Generated Sanction Memo while disbursing payment towards maturity and other PLI Claim amount.
On receipt of suggestions on the above issue from West Bengal Circle, the matter has been examined at PLI directorate. presently all payments towards PLI/RPLI maturity and other PLI Claim amount, loan etc. are made through cheque or through NEFT. Identity of the insurant or the claimant is verified/established w.r.t proper ID proof.
In view of the above, the requirement of obtaining the signature of a witness on sanction memo towards all PLI/RPLI payment is dispensed with to ease the process PLI claim Amount payment with immediate effect. FSI is being asked to modify the sanction memo accordingly.