Telangana State SI/Sub Inspector of Police Posts 2016 Recruitment Notification

Telangana State SI/Sub Inspector of Police Posts 2016 Recruitment Notification

Telangana State Level Police Recruitment Board, The Director General of Police, Telangana State given SI Posts 2016 recruitment notification on 6th February to fill up 510 vacancies. Applications are invited through ONLINE mode only in the prescribed  proforma to be made available on WEBSITE (www.tslprb.in)  at 8.00 am from 10-02-2016 to 03-03-2016 (Midnight) for recruitment to the following posts. The registered candidates may download their Hall Ticket one week before the date of Preliminary Written Test, which will be held on 17-04-2016 (Sunday) from 10.00 AM to 1.00 PM. The number of vacancies indicated is only tentative and is liable for change without giving any notice. TSLPRB reserves the right to notify  the  modifications  with  regard  to  any  aspect  of  recruitment  during  the  process  of recruitment.Police Jobs,Telangana State SI/Sub Inspector of Police Posts 2016 Recruitment Notification, Apply Online for 510 Posts,TSLPRB,,Online Application Form, How to Apply,Last date, Registration Fee,Eligibility Criteria, Age Limit, Educational Qualifications, Date of Exam, hall tickets, Results.

Fee Structure

The applicants belonging to OCs/BCs shall pay a fee of Rs. 500/- (Rupees  five  hundred  only)  and  those  belonging  to SCs/STs  shall  pay a fee of Rs.250/- (Rupees two hundred and fifty only) towards Application Processing and Examinations..

Minimum Educational Qualification:  

The candidate must hold, as on 1st July, 2015, a Degree  awarded  by any University  in India.

Age Limit:

Candidates should have age limit between 18 to 28 years as on 01-07 -2015(General).

For SC, ST Candidates 5 years age relaxation and for BC Candidates 3 years age relaxation(33 years age candidates can apply for this).

Selection process:

Sl. NO	STAGES OF SELECTION PROCESS
1	PRELIMINARY WRITTEN TEST
2	PHYSICAL MEASUREMENTS TEST (PMT)
3	PHYSICAL EFFICIENCY TEST (PET)
4	FINAL WRITTEN EXAMINATION

Important dates:

1.         Notification Issued Date : 06-02-2016

2.         Online application Start date:10-02-2016

3.         Last date for online apply: 03-03-2016

4.         Download hall tickets: One week before the date of Preliminary Written Test

5.         Written Test exam date: 17-04-2016

Post Details:

Sl. No.	Post Code No.	Name of the post	No. of vacancies
01	11	Stipendiary Cadet Trainee (SCT) Sub Inspector of Police (Civil) (Men & Women) in Police Department	208
02	12	Stipendiary Cadet Trainee (SCT) Reserve Sub Inspector of Police  (AR) (Men & Women) in Police Department	74
03	13	Stipendiary Cadet Trainee (SCT) Reserve Sub Inspector of Police  (SAR CPL) (Men) in Police Department	02
04	14	Stipendiary Cadet Trainee (SCT) Reserve Sub Inspector of Police  (TSSP) (Men) in Police Department	205
05	16	Sub Inspector  (Men) in Special  Protection  Force (SPF) Department	12
06	17	Station Fire Officer in Telangana State Disaster Response & Fire Services Department	09
		Total	510

Advances to Central Govt Employees : Rate of Interest during 2015-16

Advances to Government servants — Rate of interest for purchase of conveyances during 2015-2016.

F.No.5(2)-B(PD)/2015
Government of India
Ministry of Finance
Department of Economic Affairs

New Delhi, the 3rd February, 2016

OFFICE MEMORANDUM

Subject : Advances to Government servants – Rate of interest for purchase of conveyances during 2015-2016.

The undersigned is directed to state that the rates of interest for advances sanctioned to the Government servants for purchase of conveyances during 2015-2016 i.e. from 1st April, 2015 to 31st March, 2016 are as under:

Rate of interest per annum

(i) Advance for purchase of conveyance other than motor car (viz. motor cycle, scooter etc.)  – 9%

(ii) Advance for purchase of motor car  –  11.5%

The rates remain unchanged from those applicable for the financial year 2014-15.

sd/-
(A.K. Bhatnagar)
Under Secretary (Budget)

Authority: www.finmin.nic.in

Click to view the order

Employment News Weekly Report – SCR requires 2030 RPF/RPSF Women Constables – Last Date 1.3.2016

Employment News Weekly Report – SCR requires 2030 RPF/RPSF Women Constables – Last Date 1.3.2016

Employment News published an another list of vacancies including 2030 vacancies in South Central Railway. SCR invited applications from women candidates for the posts of Constable in RPF/RPSF. Application from candidates will be accepted through ONLINE MODE only.

Railway Protection force: 1827 posts 

Railway Protection Special Force: 203 posts

Date and Time of closing :17.30 hrs of 01.03.2016

Applicants are advised to check the official website of South Central Railway or RPF Online Registration website.

More details click here...

1. SOUTH CENTRAL RAILWAY

Name of Post –Women Constables in RPF/RPSF 

No. of Vacancies – 2030

Last Date – 01.03.2016

2. DIRECTORATE GENERAL, CRPF

Name of Posts – Assistant Sub-Inspector (Steno)

No. of Vacancies -229

Last Date – 01.03.2016

3. ATOMIC MINERALS DIRECTORATE FOR EXPLORATION AND RESEARCH

Name of Posts – Technical Officer –C, Scientific Assistant- B, Draughtsman B-1, etc

No. of Vacancies – 146

Last Date- 22.02.2016

4. INTELLIGENCE BUREAU

Name of Post –Personal Assistant

No. of Vacancies -69

Last Date: – 20.02.2016

5. BANARAS HINDU UNIVERSITY

Name of Posts – Professor, Associate Professor, Assistant Professor

No. of Vacancies –60

Last Date – 10.02.2016

Authority: www.employmentnews.gov.in

PCDA orders on implementation of OROP to Defence Pensioners - Circular No. 555

PCDA orders on implementation of OROP to Defence Pensioners - Circular No. 555

Implementation of ‘One Rank One Pension’ to Defence pensioners-PCDA

OFFICE OF THE PR. CONTROLLER OF DEFENCE ACCOUNTS (PENSIONS)

DRAUPADI GHAT, ALLAHABAD- 211014

Circular No. 555

Dated: 04.02.2016

To, 

1. The Chief Accountant, RBI, Deptt. Of Govt, Bank Accounts, Central Office C-7, Second Floor, Bandre- Kuria Complex, P B No. 8143, Bandre East Mumbai- 400051

2. All CMDs, Public Sector Banks.

3. The Nodal Officers, ICICl/HDFC/AXIS/IDBI Banks

4. All Managers, CPPCs

5. Military and Air Attache, Indian Embassy, Kathmandu, Nepal

6. The PCDA (WC), Chandigarh

7. The CDA (PD), Meerut

8. The CDA Chennai

9. The Director of Treasury, All States

10. The Pay and Accounts Officer, Delhi Administration, R K Puram and Tis Hazari, New Delhi.

11. The Pay and Accounts Office, Govt of Maharashtra, Mumbai

12. The Post Master Kathua (J&K), Camp Bell Bay.

13. The Principal Pay and Accounts Officer Andaman and Nicobar Administration Port Blair.

Subject: Implementation of ‘One Rank One Pension’ to Defence pensioners.

Reference: Gol, MoD letter No12 (1)/2014/D(Pen/Policy)-Part-II dated 3rd Feb,2016.

A copy of Government of India, Ministry of Defence letter No. 12(1)/2014/D (Pen/Policy)-Part-II dated 3rd Feb,2016 and Gol, MoD letter No 12 (1)/2014/D(Pen/Policy)-Part¬II dated 7th Nov,2015 on the above subject is forwarded herewith for information and necessary action which is self-explanatory.

2. The above Government letter has been issued to implement ‘One Rank One Pension’ (OROP) scheme for Defence Forces Personnel. Salient features of the scheme have been mentioned in Para 3 and 4 of Gol, MoD letter No 12 (1)/2014/D(Pen/Policy)-Part-II dated 7th Nov, 2015

3. The revision of pension in terms of the above Government Orders shall be effective with effect from 01.07.2014,a n d payment of arrears accrued on account of revision of pension, if any, shall be made in a time bound manner as stipulated in para 17.1 of this circular.

Click to read continue the PCDA Order

Sourcehttp://90paisa.blogspot.in/2016/02/pcda-orders-on-implementation-of-orop.html?m=1

LAST OPPORTUNITY TO PRESENT OUR DEMANDS BEFORE THE GOVERNMENT ON 7TH PAY COMMISSION-CONFEDERATION

MOST IMPORTANT

TO ALL AFFILIATED ORGANIZATIONS OF CONFEDERATION

Please read the following minutes of the Implementation cell of the Finance Ministry which is acting as the Secretariate of the Empowered Committee constituted by the Government under the Chairmanship of Cabinet Secretary for processing of 7th CPC recommendations for submission to the cabinet for approval. Please ensure (1) that your department has nominated a nodal officer and try to interact with him (2) that your organization has submitted a memorandum or letter to your departmental head seeking modifications to the department-specific recommendations of the 7th CPC (3) that your departmental head held consultations with your organization on the department specific modifications submitted by you, before finalizing the proposals for submission to the Implementation cell (4) that proposal as per the demand of your organsiation for modifying the proposal of 7th CPC is submitted to the Implementation cell within two weeks (i.e before 16.02.2016) by your department.

Please note that this is the only stage when the Unions/Associations/Federations in each department shall get an opportunity to present their demand for modifications on department – specific recommendations of the 7th CPC. If we fail to Intervene effectively at this state, we may not get another chance to present our case before the Government.

Regarding common demands JCM (NC) Staff side had already submitted its memorandum to Cabinet Secretary and two stages agitational programmes are organised and is preparing for indefinite strike. Regarding Department-specific issues Confederation National Secretariat held last month had given a clear direction to all affiliated organizations to organize departmental level agitational programmes by each organsations (if possible jointly with other organizations in that department) on department- specific modifications submitted to each Departmental head. Unless we build up pressure by organizing struggle the departmental heads may not consider our demand for modification seriously and may not even submit any proposal for modifications to the Implementation cell.

Please note the following decisions of the Implementation cell.

(1)   Nodal officers to take net of any representation or demand of the staff side Association under the administrative purview of their Department. Nodal officers to ascertain the views/comments of the concerned office in the light of the representation/demands raised by the staff Association.

(2)   In case, there is any need for consultation with the staff Association at the level of the Department, the same may be done as per the assessment of the Department.

(3)   In case, the Department is of the view that any recommendation which are specifically related to their Department, need any modification, adequate justification in clear-cut terms should be brought out while sending the comments to the implementation cell

(4)   In case of any modification, the extra financial implication (per annum) over the recommendations of the commission should be clearly indicated.

(5)   If any modification is suggested approval of the Minster (of the concerned department should be obtained.

All the above formalities are to be completed within two weeks and proposal should be submitted to the implementation cell within two weeks i.e., before 16.02.2016.

(M. Krishnan)

Secretary General

Confederation

Click here to view the minutes of the meeting

Source:http://confederationhq.blogspot.in/2016/02/most-important-to-all.html

4 postal dept officials 'spying' for ISI arrested in Jaisalmer

Click Here
JAISALMER: Four postal department officials based out of Pokhran and Balotra in Jaisalmer were on Monday arrested for allegedly spying for Pakistan's Inter-Services Intelligence (ISI). They are said to be passing on Army-related letters and other documents to a Pakistani agent.

The arrests were made after joint raids at post offices in Pokhran and Balotra by the Intelligence Bureau (IB), CID Border Intelligence and the local police. Among those arrested is Kishanpal Singh, post master at Pokhran's chief post office.

The accused were allegedly passing on confidential information about Army, like those related to war exercises, addresses of the army men, etc, to ISI. War exercises are frequently held at the Pokhran field firing range.

Jodhpur zone SP (CID) Santosh Chalke confirmed that post master Singh and computer operator Narendra Sharma from Pokhran post office were arrested under Official Secrets Act for sending sensitive information to an ISI handler. "Two employees of the Balotra main post office were also arrested. Also, post inspector Vasu Dev Meghwal has been detained. A woman named Pramila was released as preliminary investigations," he said.

Jaisalmer SP Rajiv Pachar said Singh has accepted that he was forwarding information about the Army to an ISI handler for the past three to four months. "Further investigations would reveal how much money they received for this," he said.

Prior to this, two months ago Patwari Gordhan Singh Rathore was arrested in the area on charges of spying for ISI. More than 20 SIM cards, registered in different names, were recovered from him. He was using these to share information across the border.

Links To View OROP Chart For PBOR & Family Pensioners As Applicable

No. 12(1)/2014/D(PEN/POL) - (PART-II)
Dated 03 February, 2016

Sl. No.	Category	Type of Pension	Table No	Click here to download File Name
1	JCOs/Ors Including Honorary Commissioned Officers	Retiring/Service Pension/Element	Table 7	OROP-Table-07.pdfView Download
2	JCOs/Ors Including Honorary Commissioned Officers	Enhanced Rate of Ordinary Family Pension	Table 16	OROP-Table-16.pdfView Download
3	JCOs/Ors Including Honorary Commissioned Officers	Normal Rate of Ordinary Family Pension	Table 25	OROP-Table-25.pdfView Download
4	JCOs/Ors Including Honorary Commissioned Officers	Special Family Pension	Table 34	OROP-Table-34.pdfView Download
5	JCOs/Ors Including Honorary Commissioned Officers	Special Dependent Family Pension/2nd Life award of Special Family Pension	Table 43	OROP-Table-43.pdfView Download
6	JCOs/Ors Including Honorary Commissioned Officers	Liberalized Family Pension	Table 52	OROP-Table-52.pdfView Download
7	JCOs/Ors Including Honorary Commissioned Officers	Liberalized Dependent Pension/ 2nd Life Award of Liberalised Family Pension	Table 67	OROP-Table-67.pdfView Download
8	JCOs/Ors Including Honorary Commissioned Officers	Disability Element	Table 76	OROP-Table-76.pdfView Download
9	JCOs/Ors Including Honorary Commissioned Officers	War Injury Element (Discharge)	Table 85	OROP-Table-85.pdf View Download
10	JCOs/Ors Including Honorary Commissioned Officers	War Injury Element (Invalided Out)	Table 94	OROP-Table-94.pdf View Download

Source:  PoTools blog

Saluting the services of the Chief Post Master of Hyderabad : "Best of India" magazine.

Best of India Magazine Interview Oct - 2015 r/o K Narsing Rao, Rtd CPM Hydrabad GPO

Download PDF

Thanks to  Shri . K Narsing Rao Rtd CPM hyd GPO,email : knr100755@gmail.com

7th CPC implementation- Minutes of the Meeting of Nodal Officers held on 2-2-2016 - 2 Weeks time for further action

7th CPC implementation- Minutes of the Meeting of Nodal Officers held on 2-2-2016 - 2 Weeks' time given for further action

MINUTES OF THE MEETING OF JOINT SECRETARY (IC) WITH NODAL OFFICERS HELD ON 2ND FEBRUARY, 2016

A meeting of all the Nodal Officers Of various Ministries/DepartmentS, who have been appointed to interact with the Implementation Cell in connection with the processing of the recommendations of the Central Pay Commission, was held on 02.02.2016. Joint Secretary (IC), Department of Expenditure, presided over the meeting

2. While explaining the background and the context in which the meeting of Nodal Officers was held, it was brought Out in the meeting that after the receipt of the report Of the 7th Central Pay Commission on 19.11.2015, Ministry of Finance initiated a proposal to setup an appropriate mechanism to process the recommendations Of the Commission. With the approval Of the Cabinet. an Empowered Committee Of Secretaries (E-COS) headed by the Cabinet Secretary has been set up on 27.1.2016 to screen the recommendations and to firm up the conclusions for approval Of the Cabinet. An Implementation Cell (IC), as a dedicated and focused wing in the Department Of Expenditure (DOE) has been created to work as the Secretariat for the E-CoS.

3. AS the recommendations Of the Commission relate to various Ministries/ Departments, their views/comments would be essential to process the matter for submitting the same before the E-CoS. JS(Pers), D/o Expenditure wrote a D.O. letter to the Secretaries Of various Departments on 21.11.2015, wherein all the Departments were requested to formulate their views/comments on the recommendations of the Commission pertaining to them after taking into account the representations of the Staff Associations and also to nominate a Joint Secretary level Nodal Officer for interaction with the Implementation Cell. While a number Of Ministries/Departments have sent their comments and nominated their Nodal Officers, the comments received from some Ministries are simply in the nature of forwarding the representations of the Staff Associations without their comments.

4.In the above background, JS(IC) explained that there was a need for all the Ministries/Departments to furnish their comments in a structured format so that their collation and analysis could be placed before E-COS in a systemic manner. Accordingly, JS(IC) impressed upon the following action points to be acted upon by the Nodal Officers to enable an expeditious processing of the recommendations of the 7th Central Pay Commission:

(i) Departments who have not yet nominated a Nodal Officer, should do it within the next 2 days.

(ii) To be ensured that Nodal Officers are not changed midway, unless extremely unavoidable.

(iii) Nodal Officers may get acquainted with the recommendations of the Commission as specifically applicable to their Departments. Nodal Officers to find out which Wing/Office (attached or subordinate or UT) is concerned with the recommendations of the Commission. The mechanism of Nodal Officers should also be put in place in attached/ subordinate/lJTs so that the comments of such offices could be properly coordinated at the level Of the Department concerned without any further delay.

iv) The comments Of the attached/subordinate offices/UTs should be compiled by Nodal Officers at the Department level itself.

(v) Nodal Officers to take note of any representation or demand Of the Staff Association under the administrative purview Of their Department, Nodal Officers to ascertain the views/comments of the concerned Office on the recommendation Of the Commission in the light Of the representation /demands raised by the Staff Association.

(vi) In case, there is any need for consultation with the Staff Association at the level Of the Department, the same may be done as per the assessment Of the Department.

(vii) Thereafter, the formal views/comments of the Department should be sent to the Implementation Cell (IC) on the recommendations of the and directly related to that Commission, which are specifically Department.

(viii) In case, the Department is of the view that any recommendation which are specifically related to their Department. need any modification, adequate justification in clear-cut terms should be brought out while sending the comments to the Implementation Cell (IC),

(ix) In case of any modification, the extra financial implications (per annum) over the recommendation Of the Commission should be Clearly indicated.

(x) If no modification Of the recommendations Of the Commission is suggested, approval Of the Secretary of the Department should be Obtained before sending the recommendations to the Implementation Ceil (IC). If, however, any modification is suggested, approval of the Minister should be obtained.

(xi) While the views/comments of the Departments on the recommendations Of the Commission directly and specifically applicable to that Department are mandatory. a Department is free to offer views/comments on the recommendations which are Of general nature or concerning other Departments.

(xii) Besides sending the comments/views of the Department in the running format, the same should also be sent to the Implementation Cell (IC)in the ‘prescribed proforma’ within two weeks. The soft copies of the same should also be sent through email. The email id of JS(IC) is : jsic- cpc@nic. in

(xiii) Nodal Officers shoud regularly keep a watch on the website Of the Finance Ministry at the link http://www.finmin.nic.in/the ministry/dept expenditure/notification/7cpc/index.asp. E-mails Should also be checked regularly for the purpose. The updates/further action to be taken shall be posted there to facilitate quick action.

5. Apart from the above action points, it was also felt that sub-groups may be formed after the receipt of comments from the Ministries/Departments to accord focused consideration to certain specific issues, if necessary.

6. Besides above. after detailed deliberations, the Nodal Officers also agreed to the following ‘

(i) Even if the Department has no comments, it should send a response, saying that it has ‘Nil Report’.

(ii) While certain Departments have already given their comments, these comments would be sent again in the ‘prescribed format’ and in accordance with the points brought out in para 4 above.

(iii) Nodal officers would ensure that the comments of their Departments on all the recommendations Of the Commission and also on the representations received so far from the Staff Associations are forwarded to Implementation Cell (IC) in the prescribed format in a consolidated fashion and not in piece-meal within next two weeks.

(iv) If a representation was made by a Staff Association before the 7th Central pay Commission and the Commission after due diligence has not accepted the demand made therein, the same matter should normally not be considered at this stage. However, if Departments consider that the issues are of such nature that they require consideration at this stage also, then they may give their comments with full justifications to the Implementation Cell (IC).

7. With the above discussions, the meeting ended with a vote of thanks to the Chair.

***

Available at www.finmin.nic.in
[http://finmin.nic.in/the_ministry/dept_expenditure/notification/7cpc/NodalOfficer_MoM02022016.pdf]

Read more: http://www.staffnews.in/2016/02/7th-cpc-implementation-minutes-of.html#ixzz3zGwtkA2w
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India Post ATM, operating procedure and process overview

The CBS project will bring in facilities of ATM banking, Internet Banking, Mobile banking and Phone banking to the Post Office Savings Bank customers. Eventually, it will enable POSB customers to perform transactions 24x7 in ATMs and to transfer money from their account to any bank account through NEFT and RTGS on complete roll out of CBS.

India Post Issue Process and Operating Procedure:

The PIN printing Unit has been setup at Bangalore CPC with required infrastructure. The Interim call centre is also being setup at Bangalore CPC to attend to ATM related grievances from ATM Card holders. M/s CMS info Systems Ltd. Mumbai is identified as the vendor for supply of ATM/Debit cards (RuPay). An ATM Reconciliation Centre has also been established at Bangalore CPC.

Download the Operational Hand Book on ATM version 1.1 from the link below

Download

Source:  POtools Blog

Beware of these common financial hoaxes

From 1 January 2016, no bank will accept currency notes with anything written on them: RBI." It is highly likely you have come across this message— shared by your well-intentioned, but gullible, friends. The message has been circulating on social media, and has been further spread via email and SMS. While this one is relatively less damaging, many others are not as innocuous. For instance, of late, some bank customers have been receiving calls from fraudsters posing as RBI officials in charge of 'account verification'. They are warned of account or card deactivation should they refuse to divulge their card or account-related sensitive information. Read on to decode such deceptive messages and avoid falling into their trap.

1. Scribbled currency notes won't work

Curiously, the scribbled-notes-won't beaccepted hoax has been doing the rounds for over two years. While the date remains the same—1 January—the year is modified to make the message look current. "Because of writing on currency notes, the Indian government loses over Rs 2,000 crore every year... they cannot be detected during ATM transactions..." goes the elaborate hoax. While the RBI has indeed been asking banks and general public to avoid writing on notes as it "defaces them and reduces their life", it does not make them worthless. "They can be used everywhere... There is no terminal date for acceptance, so please disregard those rumours, they are not correct," RBI Governor Raghuram Rajan recently clarified.

2. Single 'RBI' banking website

Fraudsters often pose as RBI officials and create misleading email IDs and websites to swindle unsuspecting customers. Last year, the central bank had cautioned people against relying on 'All Bank Balance Enquiry No.' app, bearing the RBI logo, that was being shared through WhatsApp. "Members of public are... advised to use the application, if at all, at their own risk," the RBI warned. Similarly, in 2014, a fake RBI website was being promoted as a means to opening an 'RBI Savings Account'. The banking regulator, which does not offer such commercial banking services, warned people against acting on the message, pointing out that fraudsters could misuse their personal information to dupe them. There are also official-looking e-mails and SMSes from banks—even the 'RBI'—sent out to dupe people into revealing sensitive information pertaining to their bank accounts or credit cards. You need to guard against such frauds.

3. You have won a $1 million lottery

This recurring scam has enveloped many individuals. It has all the ingredients of a classic fraud and yet people, goaded by greed, fall prey to it. This is how the scam works: tricksters, posing as officials of the RBI, other banks or regulators, send 'intimations' of lucrative lottery or prize winnings to randomly chosen individuals. To convince the recipients of the authenticity of their claims, they send such messages through fake letters, emails and SMSes that carry forged signatures of senior executives of these organisations. The unsuspecting victims are initially asked to deposit nominal sums as transaction fees and taxes for obtaining the prize money. Demands for more money follow, citing procedural hassles. "After accumulating a sizeable amount in these accounts, the fraudsters withdraw or transfer the money abroad and vanish," says the central bank.

4. Grievance redressal fee

Insurance customers too have been at the receiving end of fraudsters' deceit. The scam is executed by frausters posing as Irdai (Insurance Regulatory and Development Authority) officials. In 2014, Irdai had alerted policyholders about tricksters contacting them on behalf of the regulator's Integrated Grievance Management System (IGMS) cell, to resolve their complaints. Policyholders were told that for resolving their grievance and releasing the due compensation, they would have to complete formalities that included payment of fee. Scamsters would also call up policyholders to 'inform' them that their money had been fraudulently transferred and they had to make some payment as part of the procedure to get their money back.

5. Irdai's one-time compensation

Many policyholders also gave into the temptation of getting a 'bonus' that Irdai was purportedly distributing out of funds invested by insurers. Dubious callers lured policyholders into purchasing insurance policies that would yield this supposed bonus after a few months. The bonus, of course, never came through.

Many others got talked into switching their policies to avail of a 'one-time offer' to replace their lossmaking policy with a better-performing one. "Irdai has found out that your current insurance policy is fetching poor returns. As one-time relief to you, we are allowing you to surrender your existing policy and to a better product. You just have to pay a nominal fee for this..." lied the fraudsters. They also made attempts to entice customers into buying new insurance cover in order to avail of maturity proceeds or bonus under their existing policy, again citing non-existent Irdai rules. Fraudsters also make calls to 'advise' the public to invest in insurance policies to avail of gifts, promotional offers and interest free loans.

Source : http://economictimes.indiatimes.com/