Reg : Deferment of recovery of Advance due to COVID-19 pandemic

Ref: CO/Mktg./ZD/A/6/2020 Date: 04/04/2020
All Zonal Managers (I/C)-Regional Managers (Mktg.)-Sr/ Divisional Managers (I/C)-MDC, ZTCs, STCs, Audit and Inspection Centers
Reg : Deferment of recovery of Advance due to COVID-19 pandemic

The Government of India has declared the outbreak of COVID-19 as a National Disaster and to restrict the spread of this virus, complete Lockdown has been imposed in the
country till 14.04.2020. The country wide lockdown has restricted the mobility of agents of the Corporation, which has resulted in decline in New Business and Renewal
Premium collection, thereby adversely affecting the commission income of the agents.In order to provide financial help to our agents during this difficult time, it has been
decided by the Competent Authority to defer the recovery of advances granted to agents by three months. Thus, recovery of advances both - interest free and interest
bearing - will be deferred by three months ie March, April and May 2020. No interest will accrue during this three-month period and the repayment schedule
and tenure of recovery will move to the subsequent months. As such, all recoveries against the advances granted will resume from the commission payable on or after
01.06.2020.

However, it is to be noted that recoveries pertaining to Income tax, Insurance premium, Mediclaim premium, Group Insurance Premium and other mandatory dues
of agents will continue to be recovered as per rules. CO-IT/SD has been advised to release necessary E-feap update in this regard.
Executive Director (Mktg./PD/SBA)