PLI & RPLI Premium Collection Through SBI NACH (Fast+) Facility Implementation

I am directed to forward a copy of this office letter No. 29-26/2014-LI (Pt) dated 05.06.2020 on the above mentioned subject. In addition, enclosures as mentioned in the letter ibid are also attached herewith.

With Regards

Directorate of Postal Life Insurance,

Department of Post |1st Floor, Chankyapuri P.O. Complex, N.D-110021

Email: technology.plidte@indiapost.gov.in 

| Website : www.postallifeinsurance.gov.in

| Tel: 011-24674930

PLI Directorate is in process of implementation of National Automated Clearing House facility (NACH) through FAST Plus Portal of State Bank of India, for collection of PLI/RPLI renewal premia from the Bank accounts of the PLI/RPLI insurance as per Standing Instructions given by the Insurance.

Insurance will be required to submit NACH mandate registration form in POs, which will be processed in all PLI-CPCs PAN India.

As per mandate given, a one time registration fee of Rs. 25/ per mandate will be deducted by SBI from the customer's bank account directly.

A brief overview of the process to be followed is enclosed at 'Annexure-A'. 

Detailed SOP will follow closer to estimated deployment time by end of Aug-2020.