37th Meet of AGIF Investment Advisory Committee

New Delhi, Dec 11 (UNI) The Investment Advisory Committee of the Army Group Insurance Fund met here today to review the ongoing economic reforms in the country and resultant implications on AGIF investment.

This 37th Meeting of the IAC -- inaugurated by Army Chief General JJ Singh -- was attended by distinguished personalities from the field of economics, industry, finance and management who provide expert advice in an honorary capacity on AGIF investments and fund management. The Army's Adjutant General Lt Gen Thomas Mathew is the current Chairman of the IAC.

The meeting was attended by Army Vice Chief Lt Gen S Pattabhiraman besides other senior officers.

The Army Group Insurance Fund -- established in January 1976 as a Group Insurance Society -- has completed 30 years of dedicated service to the present and past members of the Indian Army and their dependents.

Starting with two schemes in 1976, it now operates 16 schemes and covers approximately 1.9 million serving and retired personnel and their dependents.

The scheme also provides disability benefits for eligible members and Post-Retirement Extended Insurance -- a self-sustaining venture managed entirely out of the monthly subscription paid by the Army Personnel.

Since its inception, AGIF has processed 19,64,012 claims and disbursed Rs 7,121.57 crore as payments. In addition to providing insurance cover to the Indian Army, the Fund also provides loans to its members for purchase of House, Conveyance and Computer at very competitive rates.

UNI DG RL ND1928