ShriJ R Joshi,a past Chairman with a difference

The sad news of the demise of Shri JR Joshi some three or four days back appears to have been mysteriously delayed to come to light. In LIC we don't seem tohave the culture to come out with official notifications on even the demise of former heads of the institution!

Be that as it may Shri JR Joshi's demise marks , perhaps, the end of the small list of a VERY few former chiefs of LIC who believed in steering the organization according to their own convictions and based on their own assessments of the situations in the best interests of policyholders or employees as the case may be.For instance he stood firm against the tinkering of the structure of LIc when it was sought to be split into five ,four decades ago.Unfortunately what one has been able to see since then,successive chairmen,/ MDs who would be cotent with gloating over the performance of LiC year over year but always remain goody- goody with the Babus of the Fin.Ministry irrespective of their own convictions and out of their concern over theirown post retirement rehabilitation!

Many may not have known that despite his reputation as as short tempered & sharp tongued person he was always soft and sympathetic to the personal problems of the staff and particularly officers. I had a lot of occasions to interact with him on individual officers' problems when he was zonal manager for S zone and I was the Gen .Secy of officers' fedn in late 79.He was definitely considerate and reasonable on deciding matters I used to represent.

I sincerely pray for Shri JR Josh's soul to rest in peace.

OM SHANTI - GN Sridharan

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*Former Chairman LIC of India, Mr J R Joshi dies at 95*

*Former Chairman LIC of India, Mr J R Joshi dies at 95*

Mr J.R.Joshi, Former Chairman LIC who resigned in 1982 due to severe differences of opinion with the Central Government over split of LIC into 5 Corporations, breathed his last on 14 September, 2021 at Bangalore. 

He was an Actuary in Western India Insurance Company, Satara before joining LIC after it was formed on 1st September,1956. He also headed Nagpur Division of LIC as Divisional Manager. 

LICians of today might have forgotten the old man but it was he who stood like a rock opposing the Era Sezhiyzn Committee Report which recommended in 1980 that LIC of India be split in 5 Corporations, East, West, North, South and Central . The Bill was referred to the Joint Parliamentary Committee and was about to be passed in Parliament. All the Staff Unions opposed the move but more so was the then Chairman of LIC, Mr Jayant Ramchandra Joshi. Being an Actuary himself, he opposed the bill saying that in the process we shall be splitting Indians into 5 groups who would be paying different premiums on their lives, probably the Indians in West and South would get the Insurance at cheaper rates and those in the East and North at higher rates which is against the principle of equity for Indians. All Indians should be treated equally. After 4 years of deliberations, finally in 1984, wisdom prevailed and the bill was officially dropped. 

Hats off to him for taking a firm stand against the Finance Ministry, for which he was asked to resign. 

He came to limelight once again when Aamir Khan invited him in his programme "Satyameva Jayate". It was in 1993 when he lost his wife who wished that Mr Joshi shouldn't live alone. After her death, he kept grooming his grandson. When the grandson got married and settled down, Joshi's son Harish urged him to marry again. His other son, Charudatta also supported this proposal and that's when Joshi placed a classified in Times of India seeking bride. He was looking for a bride at 79! Leina,a Malaysian-born Malayalee, a few years younger, from Bangalore approached him and both got married in 2005. Mr Joshi's daughter in law and Leina's son were in the forefront of the marriage preparations. 

https://youtu.be/IKueB6JwLLs

*Mr J R Joshi has left two messages for us* :

1. *Never compromise on issues which are against your* *conscience* and 

2. *Instead of leading a silent, painful life after the death of a spouse,,there is openness all around to find a suitable companion and enter into matrimony in twilight years*.  

*He was a man who lived ahead of time*. 

*Nilesh Sathe*

Former Chairman Sri JRJoshi ,Actuary no more.

Former Chairman Sri JRJoshi ,Actuary no more.

 Friends, it is easy to judge but difficult to analyze impartially .Emotions & present experience of prolonged delay in dispensation of justice by Courts & SC may also cloud our vision. But words hurled or arrows sped cannot be taken back. Sri JRJoshi was our respected & revered Chairman .Remember he was an Actuary & an eminent one at that. 

If Matriculation is a big botheration for the Indian population whose main occupation is cultivation , Actuarial Science is a big botheration for the insurance men too of administration & marketing!!

When I joined LIC as a 2nd Batch DR, after Sri Nozer Homji it was JRJ as SDM & then Sri SVNarayanan retired voluntary & settled in wonderful famous NanaNani Homes in COIMBATORE . We used to meet him in marriages here .They are happy & contented. SVN is pre 1986 Retiree & a pittance LIC &GOI offers.

    JRJ had always a smiling face, he detested mediocrity He was exemplary in his decisions. His elucidations on insurance was simple & understandable.He greets, he responds. Simplification with Standardisation & 247 private companies hydraheaded like we all faced in early years of the Corporation . It is to the credit of such Leaders then who breathed vitality & creativity & semblance of uniformity they could weave so well . In that sense he was original. 

    Few years before in one Episode of actor AmirKhan in forenoon on TV , Mrs Seetha Kishore remembers vividly & I remember vaguely that Mr & Mrs JRJ appeared & Mrs RBK says authentically that after the death of his beloved wife, as JRJ did not like going abroad where his sons were settled, it is they who after consent of dad , had married a gracious lady as his consort & the discussions on Elders & Seniors became gripping with life's varied incidents of cheers & smiles & so too sadness & tears. Old age chastens , they said & path uncertain becomes smoother & all should respect the retired & the old,older & oldest 

    All cannot become a Messiah or emulate record performers .It was said of then ZM, WZ Sri Gajanan Hiralal Thakore (GHT) that when he was ZM ,WZ became the Leader & No 1, Chairman asked him to go to SZ then lagging behind . GHT did a Hattrick with his inspiring ' Karenge Karenge Karthe Rahenge ' & he asserted the same thunderous slogan in SZ & believe me, performed the hattrick in SZ too .

   Sri JRJ prepared under his stewardship an eminent Booklet on Insurance & Actuarial Science & shape of things to come in a beautiful, glossy ,attractive Booklet for the World Conference . Envy at Sri JRJ for the costly & expensive Booklet , questioned by MOF/GOI , as one who valued Dignity & Reputation as a Treasure but strangely wrong emphasis without noticing its immense educative value , JRJ immediately put in his papers & resigned 

   Let us salute such courageous persons who really were beacons of light & thoughts 

May his soul Rest In Peace .May the Almighty shower strength & fortitude to his family in this hour of bereavement 

      I flashed the news to ZM, RMPIR, ED Personnel to be aware of his passing away .

Mournfully, 

RBKISHORE

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Srioscar Fernandez PASSES AWAY

1)It is sad news to hear about the death of veteran Leader Oscar Fernandez. He continued as Chairman of Fedn of LIC Class i Officers Associations for a very long time.

Many times Pensioners.,Employees Fedns debate if Political party leaders as Hon Chairman serve any useful purpose.Certainly contacts are useful, as Memorandums are easily delivered & some interim reply from Authorities is received.They also serve eminent purpose in comfortable Joint Call with such Leaders to the Seats of Power,MOF/GOI & coming nearer to Better appreciation of Issues & Grievances remaining unresolved for long.For AIRIEF Sri Sunil Shastri ,as Hon Chairman served very well as many meetings at Delhi we could assemble,prepare materials,ready Question Hour Debate Problems aired & present position known thro Replies.Spectacular was the 110 minutes meeting at Conference Hall with then Chairman Sri GNBajpai,

after many meetings with all Independent Directors with Notes,Charts & Tables of Loss of Pension for Various Groups of pensioners & understanding their minds & even appreciation,S/sri  Sunil Shastri ,late Sri HCMehta,then President & Actuary, late CSMurty,then GS,AIRIEF,self RBK,then VP,late Sri JKKarulkar,then Sy,RIEAMumbai could fairly convince Sri Bajpai & after few months ,thanks to dogged Dr Ram Khanna,Dirtector query in Board Meeting triggered this critical issue & softening attitude noticeable.

 I recall pleasantly the powerful speeches of some earlier Hon Chairmen like seasoned Trade Union Leader Sri Chengalvorayan,who kept the pensioner audience & others spellbound  & also later Smt Tarakeshwari Sinha,who vehemently used to assert problems which could be solved but instead shelved by GOI,she declared in a big gathering  that DA is not DEARNESS ALLOWANCE, DA is really a DIABOLIC ALLOWANCE &  to this DAY ,U notice WHAT she said  proved  Correct. Sri Sunil Shastri also was selfconfident & suave in his dealings with all Secretaries,MOF

 As right from entry into serviceas DR Officer,I became Member of LIC Class I Officers Assns,Pune 1963 onwards,Rajkot 1969,Chennai 1973,MDC 1977,Trichy 1983,ceased membership from MM& SDM Kadapa,1985.i used to contribute Articles in HM OUR VOICE ,Fedn of LIC Class i Officers Assns,when M/sAshok Kaji & Dhanda ,Editor enlarged communication spread.  

   2)Death of a politicianleader steeped in employees & pensioners issues.Sri Oscar Fernandez endeared himself to all who came into contact with him. It is agreat loss to labour & employees & pensioners

While we condole his death,pray for his soul to rest in peace,& to give strength to his family to bear this loss.all must follow his footprints & serve our cause & fraternity with dedication.

  3)Here I attach from My Archives,our website airiefvision.wordpress.com & item 48 of Kurukshetra Booklet his appealing,endearing letter to then Hon FM PranabMukerjee emphasising that data & logic given in Memorandums drive the truth of severity of problems of pensioners & more so when LIC is owned by GOI,it behoves them to, accept pension revision for insurance pensioners.

Moreover,at his instance,13 Member Employees & Pensioners Fedns jointly affixed their signature ,including late Sri VCJain,then GS,AIRIEF ,which immediately I am not able to trace.

RBKISHORE,PATRON,AIRIEF

--

RB Kishore,

PATRON,AIRIEF,

ED(Retd),LIC

Life Member,Probus Club

044-2815 5810 & 098 4034 0591.

www.airiefvision.wordpress.com

.

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AIRIEF CIRCULARS

Dear Friends,

Attached is the circular 59 for your reference , information and for sharing with our members and our units adjacent to your place and NOT having email facilities.

You may also translate to local language of your area and issue the circular.

Thanking you and with regards,

Yours sincerely,

G Krishna Swamy

GS   AIRIEF

13-09-2021

Cir 59 AIRIEF PST 13092021.pdf

Cir 59 AIRIEF PST 13092021.pdf

https://drive.google.com/file/d/1zRY_tum2RFbjBkD_TB6vKNU63FlS3Xvc/view?usp=drivesdk

Statistic of LIC Pension optees and Pensioners as 31.03.2021

RTI information on Statistics of Pensioners obtained by LIC vide letter ref LICOI/R/E/21/00750/VSJ dated 30/8/2021

 

No of pension optees in service in LIC  as at 31/3/2021: 88770

No of retiree- pensioners as at 31/3/2021:                                                

      43541

No of family pensioners as at 31/3/2021 :                                                 21527

Total number of pensioners as at 31/3/2021:                                                 65068

 

Percentage of family pensioners to total pensioners:                                                 33.08                                                                  

Total employees plus pensioners covered by LIC Pension Rules 1995:     153838

LIC D is investment

Only time will tell whether the decision is correct or not.Objectively speaking, there is a need to undertake a comprehensive SWOT analysis of LIC.

Even though we are highlighting the positive things about the profile of LIC, we cannot be blind to probable weaknesses  of and threats to LIC cannot be overlooked.

One on the performance trend and another on the organisational culture.As far as the performance trend is concerned, even though, LIC has been stabilising at the market share of 70% in terms of First Year Premium income, there are some areas of concern.Renewal Premium growth seems to be lagging behind with investment income exceeding RPI for the last three years.Even though the market share is 70% in gross FYP, the Group premium income is contributing to about 19% of the  market share while in individual new business it is just 51 to 52%. This means that in a matter of two decades, about half the new business market in retail business has been garnered by 23 private life insurers .Alternative channels like Bancassurance channels have been developed better by private players.The top performing individual agents are ageing and new agents being appointed need to establish themselves in the competitive field.

To me it appears that in personnel matters -especially where benefits to pensioners are concerned-there is lack of dynamic pursuit for decision making by the top management.I feel that there is a conservative and play safe approach followed by LIC.Decision making will undergo a radical change when there is a shift towards a Board-run organisation.Cost-benefit considerations will be paramount.

No doubt the work force may feel insecure.But in a divested situation,LIC will focus on accountability and a performance based assessment.

This is all in keeping with the emerging  modern corporate scenario.

No doubt the financial strength built by LIC will stand it in good stead.

C H Mahadevan.

D is investment in LIC

Privatisation Of LIC Will Hurt The Public Sector Business Badly

By P G Dileep

 18,40,00,00,000 – An ordinary man cannot even read this figure. Foreigners will read this as 1.84 trillion and Indians will say Rs 1.84 lakhs crores. We will be shocked to know that this is the record premium income of LIC last year. Premium means the amount collected from the policy holders. We should understand that this record collection is at a time when all the insurance companies in the world are facing a big blow due to Covid-19. For this very reason, LIC is number three among the strong international insurance brands

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Note:

You can help register your domestic workers on the following portal. 

 

www.register.eshram.gov.in

Minimum requirements 

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2) Aadhaar registered mobile number 

3) Savings

4) Age between 

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