ICICI Accused of Ghost Entries by CBI

CBI to probe ICICI Lombard

• CBI to probe the role of ICICI Lombard, Rajasthan Government, Union agriculture and Textile Ministers officials in false enrolment of farmers & artisans under Centrally funded crop & health insurance schemes
• CBI’s First Preliminary Enquiry (PE) is into Weather-Based Crop Insurance Scheme (WBCIS). Under this scheme Farmers pay 20% of premium; rest is shared between State & Centre.
• CBI alleges that 2,100 ghost farmers were enrolled under WBCIS. The company denies irregularities in obtaining 80% share of gross premium amount from Centre.
• Second CBI probe is into enrolment of 11,000 fake artisans under Rajiv Gandhi Shilpi Swasthya Yojna (RGSSBY)
• A company whistle blower first brought irregularities in enrolments to light in January, 2011.
• ICICI Lombard was awarded the contract to implement the government schemes (RGSSBY, RSBY, WBCIS and the Comprehensive Health Insurance Scheme) through competitive bidding.

Exams Perspective:

1. Whistleblower
2. Corruption
3. CBI
4. Rajiv Gandhi Shilpi Swasthya Yojna (RGSSBY)
5. Weather-Based Crop Insurance Scheme (WBCIS)