LIC CEO addresses concerns raised by agents, affirms commitment to policyholders, agents
Mumbai: A delegation of LIC agents met with the Leader of the Opposition to voice their concerns regarding recent changes in policy regulations. In response, LIC Chairman and Managing Director Siddhartha Mohanty issued a statement clarifying the company’s stance and reaffirming its commitment to both policyholders and agents.
Mohanty stated that LIC has introduced new products in accordance with the Insurance Regulatory and Development Authority of India's (IRDAI) New Product Regulations, which came into effect on October 1, 2024. He emphasized that these changes were implemented with the interests of policyholders as the top priority.
"LIC has always been committed to broadening life insurance coverage, particularly in rural areas and among economically and socially disadvantaged sections. Our goal is to extend financial protection to every insurable individual at an affordable cost," Mohanty said.
Addressing concerns about commissions, Mohanty clarified that while product regulations have undergone modifications, agent commissions have not been reduced. Instead, they are now provided in a staggered manner.
He further highlighted LIC’s diverse portfolio, which caters to various customer segments while fully complying with regulatory requirements. Citing the Micro Bachat plan as an example, he noted that it offers a minimum sum assured of ₹1 lakh and is exempt from GST, making it more accessible to a wider audience.
Reaffirming LIC’s commitment to its agency network, Mohanty stated, "LIC remains dedicated to providing financial security to policyholders while also supporting the well-being of its agency force."
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CM Siddaramaiah alleges ‘criminal conspiracy’ in Sringeri recount, vows legal action
Bengaluru (PTI): Alleging a “criminal conspiracy” by BJP candidate D N Jeevaraj in the Sringeri Assembly poll recounting, Karnataka CM Siddaramaiah on Tuesday said the outcome was manipulated after valid postal ballot votes in favour of Congress leader T D Raje Gowda were tampered with during the recounting process.
Following a Karnataka High Court order on an election petition filed by Jeevaraj, challenging Raje Gowda’s election, the reverification and recounting were conducted on Saturday.
After the reverification and recount of postal ballots for the Sringeri Assembly constituency, votes polled in favour of Raje Gowda were reduced by 255, the returning officer said.
A report on the matter has been submitted to the Election Commission of India for further action, the officer added.
Congress leader Raje Gowda had won the 2023 Assembly polls from Sringeri by 201 votes, defeating his nearest rival Jeevaraj.
Addressing a press conference in Bengaluru, Siddaramaiah said the High Court had directed the recounting of postal ballots and that irregularities were noticed during the exercise conducted on May 2.
“This is a clear case of criminal conspiracy,” Siddaramaiah said, alleging that valid votes cast in favour of Raje Gowda were altered after being accepted by counting agents of all parties, including Congress, BJP, and JD(S).
He claimed that during the recounting of postal ballots, 255 votes were initially accepted as valid by all agents but were later tampered with by subordinate officials.
“There is a second mark on the votes polled in favour of Raje Gowda. They had accepted these as valid votes. Subsequently, another mark was made by officials. This is a clear case of criminal conspiracy,” he said.
When asked who was behind the alleged conspiracy, the CM replied, “It was hatched by Jeevaraj and others. It is planned.”
Siddaramaiah further alleged that the returning officer acted improperly by declaring the result despite the presence of an Election Commission observer during the recounting.
“Immediately after the counting, the returning officer announced the result. He should not have done so; this is against the law,” he said.
He pointed out that Raje Gowda had originally won by 201 votes, but after the recounting, the BJP candidate was declared the winner by 52 votes.
“The BJP has committed a criminal act of conspiracy. This is not vote chori but vote dacoity,” he alleged.
The CM said a police complaint had already been filed by Raje Gowda’s election agent, Sudhir Kumar, and emphasised the need for electoral integrity.
“We want transparency and free and fair elections. That is what our Constitution mandates,” he added.
Stating that the government would pursue legal remedies, Siddaramaiah said, “We are preparing an appeal challenging the returning officer’s announcement in a court of law.”
Responding to a separate query on elections in other states, the CM said there appeared to be an anti-incumbency factor in West Bengal, while results in Tamil Nadu were “surprising,” adding that Vijay’s party was emerging as the largest there.
Following the victory of party candidates in Bagalkote and Davanagere South, Siddaramaiah expressed confidence about future electoral prospects in Karnataka.
“Even in 2028, we will win the Assembly elections. We will come back,” the CM said.
Siddaramaiah added that he would order a forensic examination into the alleged tampering of postal ballots.
