Internet Banking

Personal | Corporate

Apply for a New Account

Close all | Expand all

Renewal premium for the IBA Group Mediclaim Insurance for Retirees for 2019-20(Existing policy is expiring on 31/10/2019)

As you are aware that the current IBA Group Mediclaim policy of Retirees is expiring on 31/10/2018.We have received the renewal premium for Retirees policy and Super Top Up Policy* premium for the Retirees of the Indian Banks’ Association from M/s United India Insurance Co Ltd and details are given below:

Option I- Normal renewal (Without Domiciliary Cover)

Category Sum Insured Annual Premium Domiciliary coverage GST @18% Total Premium


Rs. 4 lakhs

Rs 28130.00



Rs 33193.00

Award Staff

Rs. 3 lakhs

Rs 21099.00



Rs 24897.00

Option II- With Domiciliary

Category Sum Insured inclusive of Domiciliary coverage Domiciliary coverage Annual Premium GST @18% Total Premium


Rs. 4 lakhs

Rs. 40000.00

Rs 69808.00

Rs. 12565.00

Rs. 82373.00

Clerks/Sub staff

Rs. 3 lakhs

Rs. 30000.00

Rs. 52359.00

Rs. 9425.00

Rs. 61784.00

Further, this year also United India Insurance Co. Ltd., has confirmed toissue Super Top Up Policy for the Retirees as per the terms and conditions of the IBA policy for Retirees without the Domiciliary cover. The details are given separately. If you are interested in opting for Super Top Up policy, you have to pay the additional premium as mentioned against the sum insured over and above the premium mentioned above.

TPA shall provide Cashless facilities through their empanelled hospitals across India and Retired Employees/dependant can avail the facility. The TPA will also process reimbursement claims of Hospitalization as per policy terms and conditions. The terms and conditions and continuation of the scheme shall also be subject to Industry level decision and the clarification /interpretation of various terms and conditions of the scheme shall be strictly as communicated by IBA and Retired employees/officers shall be bound by the same.

Please note that only existing retirees who are covered in IBA GMC Retiree Policies and employees who have retired during the policy period 2018-19 will be allowed to join the IBA Retiree GMC Policy 2019-20.

Please submit the consent for renewal of the policy by choosing the relevant option viz without Domiciliary /with domiciliary cover /disagreement in the option letter attached before 21/10/2019. Please note that if we do not receive your option letter before cutoff date, we will treat your option as to continue the policy without domiciliary cover.Please also keep sufficient balance in your account so as to debit the premium and include in the Retirees policy. We shall debit the account on 29/10/2019.

The detailed scheme guidelines, Coverage’s and exclusions, Claim forms, List of networked Hospitals, FAQ, are given below :

Empanelment of Retired Officers of Dhanlaxmi Bank For Engaging In Internal Audit Functions of The Bank.

Bank Propose To Keep A Panel Of Retired Officers For Conducting Internal Audit Function Of The Bank.

a. Eligibility
Any officer retired from Dhanlaxmi bank on attaining superannuation/VRS and who has worked in Manager’s cadre (Scale II) and above at least for five years. Officers on whom the Bank has imposed any major disciplinary action during the service will not be considered for re-engagement. Officers having experience as Branch Head for at least five years or worked as designated credit officers at least for 5 years in branch/RO/CO or worked in the cadre of Manager & above in Inspection Dept. at least for three years only will be considered for empanelment. Those officers who retired from the Bank within two years prior to the date of re-engagement only will be considered. The maximum age of the re-engaging official is fixed @62 at the time of appointment.

b. Period of Appointment
The period of re-engagement shall be fixed as one year which may be extended for a further period up to 2 years subject to review of performance. Incase of unsatisfactory performance, the service may be terminated with immediate effect.

c. Undertaking
The engaged retired officers should execute an undertaking on fidelity and secrecy of Bank’s matters. It is stipulated that the assignment should not be assigned to any other person in any manner whatsoever.

d. Duties
May be engaged in all types of Bank’s internal audit functions either in supportive role or independently as the case may be.

e. Duration of Inspection
Duration of inspection will be communicated to the re-engaged officer by Inspection Dept. while assigning the audit work.

f. Remuneration and benefits

  1. For Conducting Concurrent Audit:
    The present remuneration ranges from Rs.8000/- to Rs.13000/- per branch/unit according to the business size of the same. In the case of concurrent audit, minimum 10 days attendance is mandatory for a particular month in a particular branch.
  2. For Conducting RBIA & Other Audits:
    The remuneration excluding T.A and lodging expenses is fixed at Rs.25000/- (Rupees Twenty Five thousand only) per month irrespective of the cadre in which the officer last worked at the time of retirement. The remuneration will be on pro rata basis on the number of working days actually worked in a month (this is inclusive of travel time). However, the holidays falling in between the audit assignment will be counted as eligible for paying monthly remuneration. In the case of RBIA & Other Audits, the re-engaged retired official is not entitled with any type of leave once the audit is assigned to him. The absent days will be counted as LOSS of PAY.
    For locations above 5 KMs and up to 50 KMs, only actual TA/conveyance will be paid. For locations above 50 KMs, T A/conveyance and lodging expenses will be paid on actual basis and the maximum eligibility for the lodging may be fixed as Rs.2000/- (Rupees Two thousand Only) per day. The distance is calculated from the place of residence of the retired officer. For reimbursement of T A and lodging expenses, original bills certified by the Branch Manager to be submitted. The remuneration will be subject to deduction of tax at source as per the provisions of Income Tax Act from time to time.

g. Identity
Identity cards will be issued to the retired officers re-engaged for inspection which is to be produced at the branches for their verification and return.

h. Review of performance
The performance of the retired official appointed for audit purpose of RBIA, Concurrent Audit, Credit Audit & Revenue Audit will be reviewed every half year by Inspection Department.

i. Termination
If the performance of the retired official is not found satisfactory, he/she can be terminated with immediate effect based on the half yearly performance review by Inspection Department.

Click here to download BIO-DATA cum Application Format

Submission of Life Certificate for Pensioners

Retired Employees, who are drawing monthly pension from the Bank, have to mandatorily submit Life Certificate during the month of November every year. Duly filled up and signed application form shall be submitted to Human Resources Department through branch from where the pension is drawn.

Human Resources Department
Dhanlaxmi Bank Ltd.
Dhanalakshmi Buildings
Naickanal, Thrissur - 680 001
Phone : 91-487-6617000
Fax : 91-487-6617222

Click here to download Life Certificate form







Copyright© 2010 - Dhanlaxmi Bank Ltd. All rights reserved.
Site best viewed in Mozilla Firefox 15+, Chrome 15+, IE 8+ and Safari 5.0+ at 1024 x 768 pixels resolution.