Stree Nidhi Credit Cooperative Federation ttdDepartment of Rural Development: Government of Telangana

TFD No: OA2/2O144Ol &4OZ 4ttt Floor, My Home Sarovar Plaza, Secretariat Road, Saifabad, Hyderabad- 500063.

G. Vidya Sagar Reddy, M.Sc (Ag), CAIIBManaging Director

Cir .No: 10/SN/SuRaksha -(B) /2OZt-22 Date: O2.L2.2OZL

CIRCULAR

Sub: Introduction of Suraksha(B) Scheme to SHG members and theirSpouses on mutual basis - Reg.

****In the 33'a Managing Committee meeting, held on 9th November 2021,, it wasapproved to cover the spouses of SHG members along with SHG memberunder Suraksha-B scheme to protect borrower/borrower's family membersfrom financial risks in the event of untimely death of member/spouse. Theguidelines of the scheme are furnished below.

i. Eligibility Criteria: The SHGs members and their spouses in the age

group of 18-60 years are eligible for coverage under Suraksha-[B).ii. Period of Coverage: 3 years

iii. Sum Assured: Rs.1,00 ,000 / - each for member and her spouseiv. Suraksha (B) Charges:

a. Rs.230/- p.a. for SHG memberb. Rs.317 /-p.a. for spouse,

c. Total Charges :Rs.547 /- per annum.d. Total Charges Rs.1647/- for 3 years for covering SHG member

and spouse for Rs.i..00 lakh each.v. Loan for payment of Suraksha (B) Charges: Stree Nidhi will provide

loans to SHGs concerned to the extent of charges payable for coverage ofmembers and their spouses in a SHG who opted to join the scheme.Availing Loan for Suraksha charges from Stree Nidhi is mandatory tohave ease of collection of premium. The loan scheme details are as under.

Ph: 23292090Fax= 23292003

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a. Loan Amount: Rs. 1,641,/- for three years for covering member &Spouse

b. Rate of interest: 17.00o/o p.ac. Repayment : 24 equated monthly instalments (EMI) of Rs.76/-

each.d. Total interest payable for two years: Approximately Rs.195/-

i.e., Rs.B.12 per monthe. OtherConditions:

) The SHG will authorize Stree Nidhi to deduct loan amount atsource towards charges payable for coverage

F Loan linked share capital and Loan Surasha charges are notapplicable to these loans

) Samruddhi deposit is also not linked to this loan.) Spouse only cannot be covered under the scheme and

coverage of SHG member is a must.F Health condition and age declaration of spouse as per

Suraksha- B scheme by the SHGs.

) All other terms and conditions as per Suraksha B schemeare applicable.

F All interested SHG members along with spouse can join thescheme.

Associate member fee: Those SHGs which have not availed loan fromStree Nidhi under any scheme have to contribute nominal one time fee @Rs.100/- per SHG to become an Associate member of Stree Nidhi foravailing services. This amount also will be given as a part of the loanmentioned earlier. SHGs which have availed loan from Stree Nidhi earlierneed not pay the same.

Documents to be submitted with application:a. Resolution signed by all SHG members mentioning names of

members and their spouses interested to join the scheme as perthe proforma given in Annexure has to be uploaded. Theresolution also shall declare about good health condition of theSHG members/Spouses who are willing to join the Scheme. Thehard copies to be stored in VO/SLF office & the same documentshave to be verified by concerned AM/Mgr physically once in aquarter.

b. The above resolution also shall authorize SHG to take loanfrom Stree Nidhi towards SuRaksha (B) charges and associate

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member fee wherever applicable and for deduction of the same atsource.

c. CopyofAadhar card ofinterested SHG member/ spouse

d. Demand promissory Note [DPN) to be executed by authorizedleaders at the time of authentication of members.

Application Process: All the above documents along with photo ofmember concerned and her spouse will be uploaded in Stree Nidhiwebsite by VO/SLF or Stree Nidhi staff login through Tablet PC. The loanamount towards Suraksha (B) charges and associate fee will be creditedto respective accounts ofStree Nidhi. A Poliry Bond will be generated foreach member/spouse on the lines of earlier Suraksha (BJ Scheme.

Payment of instant relief amount: Rs.5000/- will be given instantly bythe VO/SLF concerned to the family members of deceased

member/spouse on day of death of a member/spouse to meet funeraland other expenses. The instant relief amount paid by VO/SLF will be

credited to VO/SLF a/c by Stree Nidhi at the time of settlement of claimand balance will be credited to SHG account. The relief will be restrictedto Rs, 5000/- only even if SHG members are covered under both theschemes i.e., Loan Suraksha and Suraksha - B being implemented byStree Nidhi.

Claim Settlement Process: The process of registration and settlementof claims will be same as that of Stree Nidhi loan Suraksha scheme. Theclaim will be registered at VO/SLF level through Tablet pC on death ofamember/spouse. Later, claim documents have to be collected by VO/SLFand uploaded through Tablet PC at vo/slF level. The field staff of StreeNidhi will conduct field verification and submit Field verification ReportIFVRJ to Ho electronically for settlement. After settlement, the amountwill be credited to nominee a/c of the deceased member/spouse.Settlement under stree Nidhi loan suraksha Scheme will be doneseparately based on the same documents, in case of death of member. Ifmembers are covered under both the schemes, submission of claim

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documents under one scheme is sufficient. However, if member is notcovered under Suraksha- B, claims have to be submitted under Loan

linked Suraksha Scheme.

In any case the claim is found to be fraud and the health condition ofthemember/spouse is not good before joining the scheme, then the claim

will not be processed. Even if the claim is processed and settled the

amount has to be returned back to Stree Nidhi af c, on finding that the

claim is fraud.

Documents required for settlement:/ Claim Application form in prescribed format [Scanned)r' Death certificate by competent authority/ Suraksha [B) certificate/ Bond ofdeceased member/spouse/ ID Proof (Aadhar Card/Voter ID card etc.,)/ Resolution by SHG regarding death of member/spouse.

Payment of Settlement charges to VO/SLFs: Stree Nidhi will pay

Rs.500/- to VO/SLF towards settlement charges for claim registration,uploading of claim documents etc, either for coverage under one or boththe schemes together as no additional effort is involved.

2. All the DRD0s, DRDA and PDs, MEPMA are requested to propagate thescheme among the SHG members.

Managing Director

To

All DRDOs, DRDAAll PDs, MEPMAAll ZSs/MSs/TLFs/VOs/SLFsAII the Staff of Stree Nidhi

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