Professional Documents
Culture Documents
CPY-24
Oct 20, 2014
TO ALL OFFICES
Attention of the Incumbents are invited to Item no.6 of Annexure I of L&A Cir.No.
112 dated 24.10.2013, interalia, advising that policies are to be sent directly to the
Insurance Companies by Registered Post or through a Staff member for getting the
assignment registered, alongwith a copy of the Surrender Value certificate for
getting its correctness authenticated
Existing Revised
Policies are to be sent directly to the Policies are to be sent directly to the
Insurance Companies by Registered Insurance Companies by Registered Post
Post or through a Staff member for or through a Staff member for getting
getting the assignment registered, the assignment registered, alongwith a
alongwith a copy of the Surrender copy of the Surrender Value certificate
Value certificate for getting its for getting its correctness authenticated.
correctness authenticated.
i) For advances upto Rs.5 lac against
. life policies, after receipt of duly
assigned policy in favour of the
branch and surrender value certificate
from the office of the Insurance
company, a Registered Letter seeking
confirmation of assignment in banks
favour (As per Annexure) be sent to
the insurance company and in case,
confirmation from insurance company
is not received within 10 days from
the date of the letter, the same may
be treated as confirmed by the
insurance company and loan can be
disbursed thereafter.
4. All the concerned are advised to note the above for meticulous compliance.
(N K SINGHAL)
GENERAL MANAGER
Annexure
BO:_______________
HO: 7, Bhikhiji Cama Place, New Delhi
Dear Sir,
You are requested to confirm the assignment of said policy in banks favour, as per
attachment, by return post.
Yours faithfully,
MANAGER
*************************************************************************************************
Confirmation letter
Place__________
Date __________
The Manager,
BO______________
Dear Sir,
We confirm having assigned the aforesaid policy in the name of Punjab National Bank BO
_______________ on _________________.
Authorised Signatory