On Friday, Dr. U.S. Awasthi, Managing Director of the Indian Farmers Fertiliser Cooperative Limited (IFFCO), met with Amit Shah, Union Minister of Home Affairs and Minister of Cooperation, to discuss the evolving role of cooperatives in India’s economy and rural prosperity. Dr. Awasthi provided a comprehensive update on IFFCO’s performance for the Financial Year 2024-25, highlighting the organization’s achievements in line with the government’s vision of “Sahakar Se Samriddhi” (Prosperity through Cooperation).

The meeting focused on several key initiatives, including the Seed Research and Development Facility at IFFCO’s Kalol Unit in Gujarat, which aims to advance seed technology and provide high-quality, certified seeds to farmers. Shah has long championed the cause of seed certification, recognizing its potential to enhance crop yields and farmers’ incomes. IFFCO’s research facility is contributing to this mission by developing reliable, high-yielding seed varieties.

The discussion also covered the collaborative efforts behind Bharatiya Beej Sahakari Samiti Limited (BBSSL), a cooperative venture focused on seed development that has already seen participation from over 20,000 cooperative societies across 34 states and union territories. BBSSL is working with government universities, agricultural scientists, and research laboratories to promote innovation in seed production, with IFFCO and KRIBHCO as key contributors.

Another important topic discussed was the role of cooperatives in expanding insurance coverage in rural India. Dr. Awasthi emphasized that India’s strong cooperative framework can be leveraged to raise awareness and increase penetration of insurance schemes in villages and small towns, safeguarding livelihoods and promoting economic stability. IFFCO’s insurance arm, IFFCO-Tokio, has launched several farmer-friendly insurance schemes tailored to meet the needs of those often excluded by conventional insurance providers.

The meeting underscores the government’s commitment to empowering cooperatives as engines of rural growth and innovation. Dr. Awasthi expressed his gratitude to Minister Shah for the meeting, stating that it was “warm and insightful.” The engagement highlights the government’s vision of using cooperatives to drive prosperity and development in rural India, and IFFCO’s role as a key player in this effort. Overall, the meeting demonstrated the government’s deepening commitment to supporting cooperatives and promoting rural prosperity through innovative initiatives and collaborative efforts.

A consumer complaint was filed by Sandeep Pai, a resident of Bengaluru, against IFFCO-Tokio General Insurance and Paramount Health Services after they denied his 15-year-old son Mukund’s corrective foot surgery claim. The insurers claimed that the problem was a congenital defect present from birth, which was not covered under the policy. However, Pai argued that the surgery was to correct a recently developed deformity, not a congenital defect. The insurers rejected both the cashless treatment and reimbursement claims, leading Pai to file a consumer complaint.

The complaint was heard by the first additional district consumer disputes redressal commission, which ruled that the denial of the claim amounted to a deficiency in service. The commission observed that the burden of proof lay with the insurers to show that the child’s condition was congenital, but they failed to examine any medical expert to prove their contention. The commission relied on a letter from Rangadore hospital, which clarified that Mukund’s foot deformity was developmental, not congenital, and appeared when he was about seven years old.

The commission also considered photographs produced by Pai, which showed his son was healthy during childhood, further supporting his case. The insurers had argued that the complaint was not maintainable either in law or on facts, but the commission rejected their arguments. The commission ordered IFFCO-Tokio and Paramount Health Services to jointly and severally pay Rs 2.8 lakh towards medical expenses with 7.5% annual interest from the date of repudiation until realization, aside from Rs 3,000 towards legal costs.

The case highlights the importance of insurers carefully examining claims and not relying solely on technical grounds to reject them. The commission’s ruling emphasizes that the burden of proof lies with the insurer to show that a condition is congenital, and that they must provide sufficient evidence to support their claims. The case also highlights the importance of consumers being aware of their rights and seeking legal recourse when they feel that their claims have been unfairly rejected. The ruling is a significant victory for Pai and his family, who can now receive the compensation they are entitled to for Mukund’s medical expenses.

IFFCO-TOKIO General Insurance Company Limited (IFFCO-TOKIO GIC) is celebrating its 25th anniversary, marking a significant milestone in its journey. The company was established in 2000 as a joint venture between IFFCO and Japan’s Tokio Marine Group and has since become one of India’s leading general insurance companies. With a strong focus on customer satisfaction and claim settlement rates, IFFCO-TOKIO has grown to cater to over 86 lakh policies through 1000+ offices and 35,000 agents.

Over the years, the company has worked towards making insurance accessible to every individual, household, and business, with a particular emphasis on under-covered communities. IFFCO-TOKIO has tied up with various cooperatives to distribute micro insurance for package policies, health, and motor policies. The company’s Managing Director & CEO, Mr. Subrata Mondal, emphasized that IFFCO-TOKIO’s vision has evolved to align with people’s aspirations and the country’s robust economy, while remaining committed to IRDAI’s “Insurance for All by 2047” initiative.

IFFCO-TOKIO has also prioritized social responsibility through its Corporate Social Responsibility (CSR) initiatives, which focus on empowering rural youth, improving healthcare, and promoting sustainable practices. The company has received numerous awards and recognitions for its business excellence, innovation, and customer service, including the ‘Tokio Marine Group Award 2025’ and the ‘India’s Top General Insurance Company Award 2025’.

The company has also demonstrated its commitment to gender diversity and equality by providing training to over 5,000 women agents and fostering financial inclusion and community trust. As IFFCO-TOKIO enters its next leg of growth, it aims to build a customer-focussed, innovative, and socially responsible insurance company in India. With its strong technological foundation and dedication to trust, innovation, and resilience, the company is poised for continued success and growth in the years to come.

Dr. Udai Shanker Awasthi, the Managing Director of the Indian Farmers Fertiliser Cooperative Limited (IFFCO), will retire on July 31, 2025, after a tenure spanning over four decades. Awasthi, a chemical engineer from Banaras Hindu University, joined IFFCO in 1976 and became Managing Director in 1993. During his time at IFFCO, he played a key role in expanding the cooperative’s operations in India and abroad, leading international ventures and partnerships in countries such as Senegal, Oman, Jordan, and the UAE.

Under his leadership, IFFCO diversified into new sectors, including insurance, crop protection, e-commerce, and agri-tech. Awasthi also promoted the use of nanotechnology in agriculture, establishing the Nano-Biotechnology Research Centre and developing products such as Nano Urea Plus and Nano DAP. He has received several awards for his contributions to the fertiliser industry, including the Rochdale Pioneers Award from the International Cooperative Alliance.

In his farewell message, Awasthi thanked the entire IFFCO family, including employees, joint venture partners, and farmers, for their support during his tenure. IFFCO Chairman Shri Dileep Sanghani praised Awasthi’s dedication to the organization, saying that he had often put the needs of IFFCO ahead of his personal life. Sanghani welcomed Awasthi’s continued guidance for the new management and wished him well in his retirement.

Awasthi’s retirement marks the end of an era at IFFCO, which is ranked the world’s number one cooperative by the World Cooperative Monitor. IFFCO has made significant contributions to India’s agricultural sector, and Awasthi’s leadership has been instrumental in the organization’s growth and success. As he begins his retirement, Awasthi will have the opportunity to spend more time with his family, including his grandchildren, and to reflect on his many achievements during his time at IFFCO.

Throughout his career, Awasthi has been recognized for his innovative approach to agriculture and his commitment to the cooperative movement. His legacy will continue to shape the direction of IFFCO and the fertiliser industry as a whole. As the organization looks to the future, it is likely that Awasthi’s contributions will be remembered and built upon, ensuring that IFFCO remains a leader in the agricultural sector for years to come.

IFFCO Tokio General Insurance, a joint venture between IFFCO and Tokio Marine Group, recently celebrated its Silver Jubilee at an event in New Delhi. The company marked 25 years of its establishment, which was a defining moment in 2000 when the Indian Farmers Fertiliser Cooperative Limited (IFFCO) joined hands with Japan’s Tokio Marine Group. IFFCO Chairman Dileep Sanghani reflected on the journey, stating that the partnership was not just the establishment of another insurance company, but a union of India’s cooperative strength with international insurance expertise.

Over the years, IFFCO Tokio has built a comprehensive product portfolio, including car, two-wheeler, health, travel, home, property, and liability insurance. The company has also ventured into niche segments such as cyber insurance, credit insurance, and fine arts insurance. One of the major pillars of the company’s legacy is its deep rural footprint, with initiatives such as Sankat Haran Bima Yojana, Mahila Suraksha Bima Yojana, and Janata Bima Yojana, which provide affordable protection to underserved communities.

The company has achieved significant milestones, including crossing Rs 5,000 crore in gross written premium (GWP) in 2017 and Rs 10,000 crore in 2023. IFFCO Tokio now stands among India’s most trusted insurers, with a strong presence in the country. The company aims to continue leading with innovation, transparency, and a customer-first approach as it enters its next 25 years.

During the event, IFFCO Managing Director K. J. Patel praised the employees’ dedication and urged them to work with unity, sincerity, and passion to achieve even greater heights. The event also saw a special moment when Dileep Sanghani met Tokio Marine CEO Satoru Komiya, symbolizing the enduring trust and partnership that defines the joint venture. With its strong foundation and commitment to customer-centric services, IFFCO Tokio is poised to continue its growth trajectory and remain a leader in India’s insurance landscape. The company’s journey is a testament to the power of collaboration and innovation, and its Silver Jubilee celebration marks an important milestone in its history.

IFFCO Tokio General Insurance, a joint venture between IFFCO and Tokio Marine Group, celebrated its 25th anniversary at Bharat Mandapam in New Delhi. The event marked a significant milestone in the company’s journey, which began in 2000 when IFFCO, the world’s largest fertilizer cooperative, partnered with Japan’s Tokio Marine Group, one of the largest insurance giants. IFFCO Chairman Dileep Sanghani reflected on the union, stating that it was not just the establishment of another insurance company, but a coming together of India’s cooperative strength with international insurance expertise.

Over the years, IFFCO Tokio has built a comprehensive product portfolio, including car, health, travel, and property insurance, among others. The company has also ventured into niche segments such as cyber insurance and fine arts insurance, positioning itself as a future-ready insurer. One of the company’s major strengths is its deep rural footprint, with initiatives like Sankat Haran Bima Yojana and Mahila Suraksha Bima Yojana providing affordable protection to underserved communities.

The company has achieved significant milestones, including becoming India’s first insurer to underwrite mega policies and establishing Bima Kendras, single-person operated centers that take insurance services to rural areas. IFFCO Tokio has also crossed significant revenue milestones, reaching Rs 5,000 crore in gross written premium (GWP) in 2017 and Rs 10,000 crore in 2023.

At the anniversary event, IFFCO Managing Director K.J. Patel praised the dedication of employees and urged them to work with unity, sincerity, and passion to achieve even greater heights. The company aims to continue leading with innovation, transparency, and a customer-first approach as it enters its next 25 years. With a strong foundation and a commitment to excellence, IFFCO Tokio is poised to remain one of India’s most trusted insurers.

The event was attended by leaders from IFFCO, Tokio Marine Group, employees, and partners from across the country. The meeting between Dileep Sanghani and Tokio Marine CEO Satoru Komiya symbolized the enduring trust and partnership that defines the joint venture. As IFFCO Tokio looks to the future, it is clear that the company’s legacy of trust, collaboration, and innovation will continue to shape the Indian insurance landscape. With its strong rural footprint, comprehensive product portfolio, and commitment to customer-centricity, IFFCO Tokio is well-positioned to achieve even greater success in the years to come.

IFFCO Tokio General Insurance, a joint venture between IFFCO and Tokio Marine Group, celebrated its 25th anniversary at Bharat Mandapam, New Delhi. The event marked a significant milestone in the company’s journey, which began in 2000 when IFFCO, the world’s largest fertilizer cooperative, partnered with Tokio Marine Group, one of the largest insurance companies globally. IFFCO Chairman Dileep Sanghani reflected on the union, stating that it was not just the establishment of another insurance company, but the combination of India’s cooperative strength with international insurance expertise.

Over the years, IFFCO Tokio has built a comprehensive product portfolio, including car, health, travel, and property insurance, and has ventured into niche segments such as cyber insurance and fine arts insurance. The company has also established a strong rural footprint, providing affordable protection to underserved communities through initiatives like Sankat Haran Bima Yojana and Mahila Suraksha Bima Yojana. IFFCO Tokio was also the first private insurer to establish Bima Kendras, single-person operated centers that take insurance services directly to rural regions.

The company has achieved significant milestones, crossing Rs 5,000 crore in gross written premium (GWP) in 2017 and Rs 10,000 crore in 2023. Today, IFFCO Tokio is one of India’s most trusted insurers, with a strong presence in the market. The company aims to continue leading with innovation, transparency, and a customer-first approach as it enters its next 25 years.

The event brought together leaders from IFFCO, Tokio Marine Group, employees, and partners from across the country. IFFCO Managing Director K. J. Patel praised the employees’ dedication and urged them to work with “unity, sincerity, and passion” to achieve even greater heights. The company’s legacy is built on its deep rural footprint, innovative products, and commitment to providing affordable protection to all sections of society. As IFFCO Tokio looks to the future, it is poised to continue its growth and success, driven by its core values of trust, collaboration, and innovation. With a strong foundation and a clear vision, the company is ready to take on new challenges and opportunities in the Indian insurance landscape.

IFFCO-TOKIO General Insurance Company has partnered with various cooperatives to offer micro insurance package policies, providing affordable solutions to under-covered communities. This initiative is part of the company’s celebration of its silver jubilee and aligns with the Insurance Regulatory and Development Authority of India’s (IRDAI) vision of “Insurance for All by 2047”. Established in 2000 as a joint venture between Indian Farmers Fertilizer Co-operative (IFFCO) and Japan-based Tokio Marine Group, IFFCO-TOKIO GIC has been guided by the principle of affordable insurance.

The company’s Managing Director and CEO, Subrata Mondal, stated that the vision has expanded to align with people’s aspirations and a robust economy, while remaining committed to IRDAI’s goal. To achieve this, IFFCO-TOKIO has introduced affordable insurance solutions for under-covered communities, inspired by various IRDAI initiatives. The partnership with cooperatives aims to distribute micro insurance for package policies, health, and motor policies, making insurance more accessible to those who need it.

IFFCO-TOKIO GIC offers a range of retail products, including motor, health, travel, home, and personal accident insurance, as well as corporate insurance products. By collaborating with cooperatives, the company can reach a wider audience and provide tailored solutions to meet the specific needs of under-covered communities. This move is expected to contribute to the growth of the insurance sector and help achieve the goal of “Insurance for All by 2047”. With its commitment to affordable insurance and partnerships with cooperatives, IFFCO-TOKIO GIC is well-positioned to make a positive impact on the lives of millions of people in India. The company’s efforts to increase insurance penetration and provide affordable solutions will likely have a significant impact on the industry and the communities it serves.

IFFCO Tokio General Insurance Company Ltd. has completed 25 years of service, marking a significant milestone in its journey. The company has received congratulatory messages from across the cooperative and insurance sectors, celebrating its contribution to rural India, particularly farmers and cooperatives. K J Patel, MD of IFFCO, expressed pride in the company’s journey, recalling the strong foundation upon which the joint venture was built. One of the company’s notable initiatives is the Sankat Haran Bima Yojana, an accidental insurance scheme linked with every bag of IFFCO fertilizer, which has provided protection and financial security to farmers and their families.

IFFCO Tokio’s journey began in 2000, after the Government of India opened the insurance sector. The company was formed through a partnership between IFFCO and Japan’s Tokio Marine & Nichido Fire Insurance Company Ltd., blending global expertise with India’s cooperative ethos. Over the years, the company has created a successful business venture and laid the groundwork for a legacy that continues to strengthen. Patel stated that the 25-year journey reflects trust, protection, and steadfast support to India and its farmers, and encouraged the team to look ahead with greater ambition.

Recently, the Ministry of Cooperation reviewed IFFCO Tokio’s progress in cooperative onboarding, emphasizing the need for expanding insurance coverage within the cooperative network and accelerating tie-ups with banks. The company has reported premium generation of Rs 162 crore in the current fiscal year, with Rs 148 crore coming from existing cooperatives and Rs 14 crore from new tie-ups. The Ministry has stressed the need for deeper outreach and targeted strategies to bring more cooperative banks under insurance coverage.

As IFFCO Tokio steps into its next phase of growth, the Silver Jubilee celebration marks not just a successful past but also a promise of a brighter future for the insurance cooperative ecosystem in India. The company’s commitment to rural India, particularly farmers and cooperatives, remains strong, and its initiatives continue to inspire pride across the organization. With its strong foundation and global expertise, IFFCO Tokio is poised to continue its growth and expansion, providing protection and financial security to more farmers and their families. The company’s journey is a testament to the power of collaboration and cooperation, and its legacy will continue to shape the insurance landscape in India for years to come.

IFFCO-Tokio General Insurance has introduced a new insurance product called Surety Bond Insurance, which aims to provide a risk mitigation solution for the infrastructure sector. This launch comes after the Insurance Regulatory and Development Authority of India (IRDAI) permitted general insurers to issue surety insurance bonds in April 2022. The Surety Bond Insurance is a legally enforceable tripartite contract that provides a hedge against the risks involved in infrastructure projects.

In the past decade, India has initiated over 9,000 Public-Private Partnership (PPP) infrastructure projects worth Rs 68.13 lakh crore. However, many contractors face financial constraints, particularly with regard to the limits required under India’s bidding and other processes. This is where Surety Bond Insurance comes in, providing relief to contractors and freeing up their financial burden.

The Surety Bond works as a risk transfer mechanism, where the insurer provides a guarantee to the beneficiary or obligee that the principal or contractor will meet their contractual obligations. If the principal fails to deliver, the insurer pays a monetary compensation to the obligee. To provide this guarantee, the insurer assesses various factors, including the project type, revenue, past records, and financial health of the contractor.

The construction industry has already provided bank guarantees worth Rs 1.70 lakh crore, and this figure is expected to grow to Rs 3 lakh crore by 2030. The introduction of Surety Bond Insurance is expected to support this growth by providing an alternative to traditional bank guarantees. According to Subrata Mondal, MD and CEO of IFFCO-Tokio General Insurance, this product will help widen the pool of contractors and make it easier for them to participate in infrastructure projects.

Overall, the launch of Surety Bond Insurance by IFFCO-Tokio General Insurance is a significant development in the insurance industry, and it is expected to play a crucial role in supporting the growth of the infrastructure sector in India. The product is designed to provide a risk mitigation solution for contractors and help them overcome financial constraints, making it easier for them to participate in infrastructure projects and contribute to the country’s economic growth.

U.S. Awasthi, the longest-serving CEO of a fertilizer company, has retired as the Managing Director of Indian Farmers Fertiliser Cooperative Limited (Iffco) after a three-decade stint. Awasthi, who turned 80, has been succeeded by K.J. Patel, who has taken charge as the new MD. Awasthi joined Iffco in 1976 as a chemical engineer and rose through the ranks to become the MD in 1993. During his tenure, he played a crucial role in shaping the company’s trajectory and elevating it to global prominence.

Under Awasthi’s leadership, Iffco expanded its global footprint through strategic investments in countries such as Senegal, Oman, Jordan, and the UAE. He also initiated diversification initiatives, including joint ventures like IFFCO-Tokio General Insurance Company, a collaboration with Japan’s Tokio Marine Group. Awasthi’s contributions to the company have been widely recognized, and he is credited with transforming Iffco into one of the largest fertilizer cooperatives in the world.

K.J. Patel, the new MD, has over 32 years of experience in the maintenance of nitrogenous and phosphatic fertilizer plants. He was previously the director-technical at Iffco and was heading the Iffco Paradeep Plant, the largest complex fertilizer plant in India. Patel’s appointment is seen as a significant development in the Indian fertilizer industry, which is highly controlled and regulated.

Awasthi’s retirement marks the end of an era at Iffco, and his legacy is expected to continue under the leadership of Patel. The company has expressed its gratitude to Awasthi for his contributions and wishes him well in his post-retirement life. As Iffco looks to the future, it is expected to continue its growth trajectory and expand its operations under the leadership of Patel. With its strong foundation and experienced leadership, Iffco is poised to remain a major player in the global fertilizer industry.

Shiv Sena party workers and leaders vandalized the office of insurance company IFFCO Tokio in Pune on Wednesday, protesting the delay in disbursement of insurance amounts to farmers affected by unseasonal rains. The farmers in several parts of Maharashtra have suffered significant losses due to the heavy rains that have damaged their Kharif crops, including soybean, jowar, maize, and cotton. The protesters, numbering around 35, stormed into the IFFCO Tokio office, located in Koregaon Park, and ransacked the premises, damaging nearly 45 laptops and desktops, 10 printers, and injuring a watchman.

The Shiv Sena party has been actively involved in supporting the affected farmers, with its chief Uddhav Thackeray and Yuva Sena chief Aaditya Thackeray visiting the rain-affected regions to assess the situation. The state government has announced a relief package of Rs 10,000 crore for the affected farmers, but the opposition party, NCP, has deemed it insufficient and is demanding a relief package of at least Rs 25,000 crore.

IFFCO Tokio released a statement clarifying that it has not participated in the crop insurance scheme in Maharashtra for the current year and has already paid all eligible claims for the previous season. The company expressed surprise at the vandalism, stating that the protesters did not discuss their grievances or issues before resorting to violence.

The incident highlights the growing desperation and frustration among farmers in Maharashtra, who are struggling to cope with the losses caused by the unseasonal rains. In the past four days, at least ten cases of farmer suicides have been reported from the Marathwada region, underscoring the need for urgent action to address the crisis. Maharashtra Governor Bhagat Singh Koshyari has directed the state government to convene a meeting with insurance companies to expedite the disbursal of claims for crop damage, in an effort to provide relief to the affected farmers.

IFFCO-Tokio General Insurance has introduced its surety bonds business, a move aimed at supporting India’s growing infrastructure sector. Surety bonds are legally binding contracts that serve as a risk-mitigation tool for projects, providing an alternative to traditional bank guarantees. By launching this product, IFFCO-Tokio seeks to increase access to surety bonds for contractors, particularly small and medium-sized firms, and foster trust among stakeholders.

The construction sector in India has already issued a significant amount of bank guarantees, valued at Rs 1.7 trillion, and this number is expected to rise to Rs 3 trillion by 2030. However, the adoption of surety bonds has been slow due to regulatory and operational challenges. Despite these hurdles, the industry is working to address them and expand the market.

The introduction of surety bonds by IFFCO-Tokio is a significant development, as few insurers currently offer this product in India. By providing an alternative to traditional bank guarantees, surety bonds can help contractors and project developers manage risk more effectively. This, in turn, can lead to increased investment in infrastructure projects, driving growth and development in the sector.

The benefits of surety bonds are numerous. They can help reduce the financial burden on contractors, who often have to provide bank guarantees to secure projects. Surety bonds can also provide a more efficient and cost-effective way to manage risk, as they can be tailored to specific project requirements. Furthermore, surety bonds can help increase transparency and accountability in the construction sector, as they provide a clear and legally binding contract between parties.

Overall, the launch of IFFCO-Tokio’s surety bonds business is a positive development for India’s infrastructure sector. By increasing access to surety bonds and providing a more effective risk-mitigation tool, IFFCO-Tokio can help support the growth of small and medium-sized firms and promote trust among stakeholders. As the industry continues to address regulatory and operational challenges, the adoption of surety bonds is likely to increase, driving growth and development in the construction sector.

Dr. Udai Shanker Awasthi, the Managing Director of the Indian Farmers Fertiliser Cooperative Limited (IFFCO), will retire on July 31, 2025, after a distinguished career spanning over four decades. During his tenure, Dr. Awasthi has played a pivotal role in transforming IFFCO into a world-renowned cooperative conglomerate, elevating it to unparalleled global prominence. As a chemical engineer from Banaras Hindu University, Dr. Awasthi joined IFFCO in 1976 and rose through the ranks to become Managing Director in 1993.

Under his leadership, IFFCO has achieved significant milestones, including diversification into various ventures that have empowered farmers across India. Dr. Awasthi’s visionary approach has led to strategic investments in countries such as Senegal, Oman, Jordan, and the UAE, as well as the establishment of joint ventures like IFFCO-Tokio General Insurance Company and IFFCO-Mitsubishi Corporation. He has also pioneered the use of nanotechnology in agriculture, leading to the development of innovative products like Nano Urea Plus and Nano DAP.

Dr. Awasthi’s contributions have earned him numerous accolades, including the global Rochdale Pioneers Award and the title of “Fertiliser Man of India.” He has also held leadership positions in the International Fertiliser Association and the Fertiliser Association of India. As he prepares to retire, Dr. Awasthi expressed his gratitude to the entire IFFCO family, including subsidiaries, joint ventures, and affiliates, as well as esteemed institutions and individuals who have supported him throughout his journey.

The Chairman of IFFCO, Dileep Sanghani, praised Dr. Awasthi’s selfless commitment to the organization, stating that he has been “profoundly immersed in the affairs of IFFCO” and has made significant sacrifices for the benefit of the organization. As Dr. Awasthi steps into retirement, IFFCO honors his legacy of innovation, integrity, and service, which will continue to guide the organization’s future endeavors. IFFCO is currently ranked as the world’s number one cooperative in terms of its contribution to GDP, according to the World Cooperative Monitor Report.

Dr. Awasthi’s retirement marks the end of an era, but his impact on the cooperative and fertilizer domains will be felt for generations to come. His dedication to the welfare of farmers and cooperatives has inspired countless individuals, and his pioneering work in nanotechnology has opened up new avenues for innovation in agriculture. As IFFCO looks to the future, it is clear that Dr. Awasthi’s legacy will continue to shape the organization’s trajectory and inspire new leaders to follow in his footsteps.

The Uttarakhand State Consumer Disputes Redressal Commission recently ruled in favor of a complainant, Smt. Meera Srivastava, in a case against IFFCO Tokio General Insurance Co. Ltd. The insurance company had denied a personal accident insurance claim made by Srivastava after her husband’s death due to complications from rabies. The policy had been taken out as part of a personal loan agreement, and the husband had been covered from July 2010 to July 2011.

The insurer repudiated the claim, stating that the cause of death did not fall under the definition of “accidental bodily injury” as provided in the policy. However, the Commission rejected this contention, noting that the policy did not contain any express exclusion for rabies or related infections. The Commission observed that the general exclusions section did not reference deaths from viral infections or animal bites.

The Commission also examined the definition of “injury” under the policy, which was defined as an accidental bodily injury caused by external, violent, and visible means. The Commission held that if the rabies infection had resulted from a dog bite or similar external incident, it would fall within this definition. This interpretation is supported by judicial precedents, such as a Supreme Court ruling that death due to a snakebite qualifies as an accident under a personal accident policy.

The Commission applied the principle of “contra proferentem,” which holds that ambiguity in an insurance contract must be interpreted in favor of the policyholder. The Commission ultimately held that the insurer’s decision to repudiate the claim lacked justification and amounted to a deficiency in service under the Consumer Protection Act. The Commission directed the insurer to compensate the complainant with the sum assured under the policy, as well as additional amounts for mental agony and litigation costs.

This decision highlights the importance of clarity and consistency in how insurers handle claim repudiations. The Commission made it clear that exclusions must be expressly stated in the policy document and that insurers cannot rely on vague language or internal interpretations to avoid liability. The ruling sends a strong message that unjustified repudiations, particularly in cases involving personal loss or death, will not be upheld by consumer forums. The decision emphasizes the need for insurers to treat policyholders fairly and transparently and to honor claims when all policy conditions have been met and no clear exclusion applies.

The Union Ministry of Cooperation held a high-level review meeting on Tuesday at Atal Akshay Urja Bhawan in New Delhi. The meeting, chaired by Secretary Dr. Ashish Kumar Bhutani, aimed to assess the progress of IFFCO-TOKIO in onboarding cooperatives and outlining its business expansion strategies. The discussions focused on key areas such as strengthening cooperative outreach, widening insurance coverage, and aligning the company’s growth plans with the Ministry’s objectives.

Dr. Bhutani emphasized the importance of leveraging insurance solutions to protect cooperative members and enhance financial resilience at the grassroots level. He highlighted the need for IFFCO-TOKIO to expand its insurance coverage to more cooperatives, thereby providing financial security to its members. The meeting also explored ways to strengthen the cooperative sector through innovative insurance products and services.

The meeting was attended by senior officials from the Ministry of Cooperation, including Pankaj Kumar Bansal, Additional Secretary, and Raman Kumar, Joint Secretary. Representatives from IFFCO, including Managing Director K.J. Patel and Joint Managing Director & Chief Financial Officer Rakesh Kapur, were also present. Other key stakeholders from the cooperative sector attended the meeting, providing valuable insights and suggestions.

The review meeting marked an important step towards strengthening the cooperative sector through insurance solutions. By onboarding more cooperatives and expanding its insurance coverage, IFFCO-TOKIO can play a vital role in enhancing financial resilience and promoting economic growth at the grassroots level. The Ministry of Cooperation’s efforts to leverage insurance solutions for the cooperative sector are expected to have a positive impact on the lives of millions of cooperative members across the country.

Overall, the meeting underscored the importance of collaboration between the government, cooperative sector, and insurance companies to promote economic growth and financial inclusion. The outcomes of the meeting are expected to guide IFFCO-TOKIO’s future growth plans and strategies, ensuring that they align with the broader objectives of the Ministry of Cooperation. With a focus on strengthening cooperative outreach and widening insurance coverage, the meeting marked a significant step towards promoting the growth and development of the cooperative sector in India.