New India provides for Rs 102 crore for dues from state governments

New India provides for Rs 102 crore for dues from state governments

Chennai: Government-owned premier non-life insurer New India Assurance Company Ltd has provided about Rs 102 crore last fiscal towards doubtful debt for the dues from the governments of Rajasthan, Karnataka, and Arunachal Pradesh.

According to New India, an amount of Rs 120.09 crore was withheld/deducted by the Rajasthan government under the Bhamashah Health Insurance Scheme towards rejection of claims under the scheme and related matters.

As per a meeting held on August 4, 2020 between New India and the Rajasthan government, it was agreed to adjust the amount of about Rs 65.33 crore against the outstanding claims payable by the company to respective claimants/hospitals under the scheme.

During the current quarter and for the year ended March 31, 2021, out of total amount of about Rs 65.33 crore, an amount of about Rs 2.09 crore and Rs 63.08 crore, respectively, has been adjusted against the outstanding claims payable by the company to respective claimants/hospitals.

The balance amount of about Rs 2.24 crore shall be adjusted against unsettled claims in subsequent periods.

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