INSURANCE EMPLOYEES' CREDIT CO-OPERATIVE ... - ieccsl.com

1 INSURANCE EMPLOYEES' CREDIT CO-OPERATIVE SOCIETY LTD. LIC BUILDINGS, NUAPATNA, CUTTACK. TELEPHONE E-mail: Website: Circular To All Members, INSURANCE EMPLOYEES' CREDIT CO-OPERATIVE SOCIETY LTD. Re: 57TH ANNUAL GENERAL BODY MEETING & SOME IMPORTANT DECISIONS. Dear Co-operators, We have the pleasure to inform you that the Annual General Body Meeting of our CO-OPERATIVE Society was held successfully under presidentship of Sri Manoj Kumar Mishra, President on 15/04/2018. As many as 302 members attended the meeting and 10 members participated in the discussion having given valuable suggestions for betterment of our Society.

2 Some suggestions were accepted by the General Body. Subsequently, the Board of Management meeting has been held on 13/05/2018 and on the basis of members opinion in the General Body, the following important decisions have been taken by the Board. D E C I S I O N S : . 1. ENHANCEMENT OF LOAN LIMIT (EFFECTIVE FROM 01/06/2018): GENERAL LOAN- @9% (EMI FOR 1 LAKH LOAN ) DURATION OF MEMBERSHIP LOAN ELIGIBILITY EXISTING REVISED 01 YEAR AND ABOVE BUT LESS THAN 03 YEARS 1,20,000 1,70,000 03 YEARS AND ABOVE BUT LESS THAN 06 YEARS 1,50,000 2,10,000 06 YEARS AND ABOVE BUT LESS THAN 09 YEARS 1,80,000 2,50,000 09 YEARS AND ABOVE BUT LESS THAN 12 YEARS 2,20,000 3,00,000 12 YEARS AND ABOVE BUT LESS THAN 15 YEARS 2,60,000 3,50,000 15 YEARS AND ABOVE BUT LESS THAN 20 YEARS 3,00,000 4,00,000 20 YEARS AND ABOVE BUT LESS THAN 25 YEARS 3,60,000 4,60.

3 000 25 YEARS AND ABOVE 4,00,000 5,00,000 2. ENHANCEMENT OF LOAN LIMIT (EFFECTIVE FROM 01/06/2018): SPECIAL LOAN- @10% (EMI FOR 1 LAKH LOAN ) DURATION OF MEMBERSHIP LOAN ELIGIBILITY EXISTING REVISED 01 YEAR AND ABOVE BUT LESS THAN 03 YEARS 1,20,000 1,70,000 03 YEARS AND ABOVE BUT LESS THAN 06 YEARS 1,50,000 2,10,000 06 YEARS AND ABOVE BUT LESS THAN 09 YEARS 1,80,000 2,50,000 09 YEARS AND ABOVE BUT LESS THAN 12 YEARS 2,20,000 3,00,000 12 YEARS AND ABOVE BUT LESS THAN 15 YEARS 2,60,000 3,50,000 15 YEARS AND ABOVE BUT LESS THAN 20 YEARS 3,00,000 4,00,000 20 YEARS AND ABOVE BUT LESS THAN 25 YEARS 3,60,000 4,60.

4 000 25 YEARS AND ABOVE 4,00,000 5,00,000 3. NON-PURCHASE OF SHARE: Consequent upon enhancement of loan limits to ,00,000/-(both General & Special loan taken together) from ,00,000/- the share limit has also been enhanced to ,00,000/- from ,000/- but it is applicable only for members who avail loan of ,00,000/-. For other members, direct purchase of share is not allowed forthwith. So a member cannot purchase share directly 14/05/2018. 4. PAYMENT BY MEMBERS/OFFICES THROUGH DD/CHEQUE/NEFT/RTGS: We have opened a new flexi fixed deposit account with our banker IDBI for availing better facilities which will be maintained by us as our deposit account.

5 We request our members/offices to send deposit/remittance on the following bank details instead of depositing with our bank AXIS Bank, Badambadi, Cuttack. BANK NAME AND ADDRESS : IDBI BANK LTD, COLLEGE SQUARE, CUTTACK ACCOUNT NUMBER : 0217104000136693 IFS CODE : IBKL0000217 5. OUR WEBSITE & E-MAIL ID: All the latest information, circulars and notices are available in our website Members are requested to visit the website regularly. All loan application forms are available in the website which can be printed and used by the members. Our e-mail id can be used by members for correspondence. 6. PARTICIPATION OF CHILDREN IN CASH AWARD: It is observed that due to lack of awareness, our members are not sending their children s certificate to enroll the names in the children cash award competition of CO-OPERATIVE Society.

6 Normally selected candidates are awarded in the AGB Meeting of CO-OPERATIVE Society. Therefore, we request our members to submit the certificate for children cash award well in advance after the declaration of result by the concerned Board. This will help us in finalising the list in time and the names of awardees can be printed in the AGB report. Assuring best of our services. Yours Faithfully Secretary