AP G.O No 1618 sanction of loans and settlement of Claims

Andhra Pradesh government has released GO No 1618 on 6.5.2015.As per G.O No 1618 the A.P government has sanctioned an amount of 75 crores towards sanction of Loans and settlement of Claims to the Policyholders of APGLI Department for the financial year 2015-2016.

main points of G.O No 1618 of A.P

Read the following:
  1. Lr. No.C/LOC/01/AP-DIR/2015-2016, Dt. 30-03-2015 of the APGLI, Department, A.P. Hyderabad. 
  2. U.O. No. 2039-A/153/A2/EBS-I/2015, Finance (EBS-I) Department, dt: 27-04-2015.
  3. In the reference 1st read above, the Director of Insurance (FAC), A.P. Hyderabad  has  requested  the  Government  to  release  an  amount  of Rs.75.00 crores (Rupees Seventy Five crores only) towards 1st quarter amount of the Financial year 2015-16 to facilitate distribution among the (13) District Insurance Offices towards sanction of Loans and settlement of Claims to the Policyholders under the Head of Account 8011-MH – 105-SH (01).
  4. Government, after careful examination of the proposal of the Director of Insurance(FAC), A.P. Hyderabad, hereby accord sanction for an amount of Rs. 75.00 Crores (RupeesSeventy Five crores only) under Public Account, from the BE provision 2015-16 towards loans and settlement of claims in all 13 District Insurance Offices in Andhra Pradesh under the  following Head of Account.
M.H – 8011- Insurance & Pension Funds.
            105- State Government Insurance Fund.   
S.H - (O1) – A.P. State Government Life Insurance Fund.
Finally As per AP G.O No 1618 an amount of 75 crores released to clear claims and sanction loans.

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