Jaipur: APEX Co-operative Bank is being repaired as a company that handles farmers’ personal insurance that has utilized loans from banks that support new provisions entered while no new companies come despite new tenders.
To avoid situations where farmers lose personal insurance protection for loans, banks are said to be multling to change the rules.
Personal life insurance cover is given to farmers who drink loans to 10 lakh rs of cooperative banks.
In terms of natural death loans, the amount is paid by the insurance company.
Officials at Apex Cooperative Bank said the company did not approve the provision of guarantees as a guarantee of performance.
Likewise they do not agree with the bank’s request to share a premium that is not claimed to be 50:50.
For example, if the insurance company has collected Rs 1,000 as a premium and only pays Rs 700 towards insurance claims, according to the request of the Bank, the remaining RS 300 must be distributed in a 50% ratio between the Company and the Bank.
This provision is not found by an insurance company.
Other points of dispute are arbitration clauses in terms of non-approved disputes by insurance companies
Not many takers for the cover of the APEX bank plant insurance
