IBA LETTER TO BANKS ON PREMIUM ON GMIS 2025-26

[MOHAN P]

Dear Friends,

Please find the details.

[JSOMA SHEKARA]

'This is the scheme we have. Take it or get out'

This is the message for retirees. Out of 7lakh odd retirees  only 20% have joined the scheme. 

On Sat, 13 Sept 2025, 12:21 MOHAN P, <moha...@gmail.com> wrote:

Dear Friends,

Please find the details.

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[Ramachandran Bella]

Dear brother 

There is no mention of GST? 

Any clarification regarding this. 

On Sat, Sep 13, 2025, 12:21 PM MOHAN P <moha...@gmail.com> wrote:

Dear Friends,

Please find the details.

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[MOHAN P]

SIR,

IBA Cir has specifically mentioned that premium is " EXCLUDING GST"

To view this discussion visit https://groups.google.com/d/msgid/bankpensioner/CAFioWRF%3D-GV%2B2hvqqXPy%3DzJXLmce6GynJbxQYkNCXttRyQcy1Q%40mail.gmail.com.

[JSOMA SHEKARA]

First of all, IBA should not have announced premium rates without getting clarification from the GST Council/FM.

AIBRF also is forcing members to subscribe to GIMS without getting clarification.

To view this discussion visit https://groups.google.com/d/msgid/bankpensioner/CAFioWRF%3D-GV%2B2hvqqXPy%3DzJXLmce6GynJbxQYkNCXttRyQcy1Q%40mail.gmail.com.

[Mani B]

No GST is applicable from sep 22, 25 for medical insurance policies. Our GMI policy takes effect from Nov 1, 25 only. Hence, we can ignore that words.

Bala

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[Vvns Varaprasadrao]

AIBRF/UFBU washed their hands simply by writing letters to waive GST to all retirees on GIMS.

Now,. AIBRF started canvassing to join IBA policy without any hesitation and reservation.

Scapegoats are retirees.

Regards.

To view this discussion visit https://groups.google.com/d/msgid/bankpensioner/CAM%3DeiW2e%2B9_CU2VkNSDneFDp-kvMM886SEk%2BTDqmkMtrQSbmcQ%40mail.gmail.com.

[Daum.net]

Hai Sir , whether GST applicable to IBA insurance policies. Please enlighten 

Yahoo Mail: Search, Organize, Conquer

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[MOHAN P]

Sir,

Matter is very clear as informed earlier.

As per 56th GST Council Meeting held, effective from 22nd Sept 2025 GST exemption (replacing 18% )will be made available on all

'individual 'health insurance policies.

However,as of now IBA group medi insurance premium,  may attract GST. Associations and Serving employees Unions have already taken up the matter with Hon.FM to allow the benefit to IBA GMI premium also.

To view this discussion visit https://groups.google.com/d/msgid/bankpensioner/315797083.2441138.1757998939238%40mail.yahoo.com.

[Ramakrishnan S]

Sir, 

The Bank retirees' mediclaim policies are due for renewal from 1st Nov. 25 only. 

As of now we are continuing as an as an unlucky lot only!

Many representations are sent to waive GST on our mediclsim renewal premium. 

The issue cintinues to remain undecided. 

Let us wait & watch. 

Ramakrishnan. 

To view this discussion visit https://groups.google.com/d/msgid/bankpensioner/315797083.2441138.1757998939238%40mail.yahoo.com.

[JSOMA SHEKARA]

IBA and UFBU jointly decided to formulate a Group Medical Insurance scheme including retirees also on the condition that they have to bear 100% of the premium. without consulting retirees or their organizations.

No retiree had asked for such a scheme.

Now IBA and UFBU cannot wash away their hands by writing letters to FM.

In case the GST council refuses to give exemption to GIMS both IBA and UFBU should take responsibility and compensate retirees to the extent of the GST amount.

To view this discussion visit https://groups.google.com/d/msgid/bankpensioner/CAGNvMyjwqy8cMA32oDNMjbZecK6oC588kdgkhw5k9WdA4zZSGw%40mail.gmail.com.

[Rajender Sharma]

Sir,

You are absolutely right.

But you know nobody cares for the retirees and they have been left

to fend for themselves.

Why our retiree organisations are blindly toeing their line..is

something bizarre and beyond comprehension !

R K Sharma

[Rajender Sharma]

Sir,

It is quite disturbing to note that the same game is played with the retirees every year

and they are left in the lurch with no options left for them .

Our retiree organisations are mad after IBA policy for reasons best known to them.

They have no guts or intentions to negotiate an honourable and affordable group 

policy for the retirees well in advance to provide the much needed relief.

When they can negotiate for a Super Top-up group policy for their members,

what prevents them from negotiating for a base policy ?

Why to blame the IBA alone ?

R K Sharma

[JSOMA SHEKARA]

IBA and UFBU will meet on 26th Sep 2025 for discussions prior to the CLC meet.

IBA and UFBU have removed Pensioners issues from the pending residual issues list.

So as usual our issues may not be discussed.

To view this discussion visit https://groups.google.com/d/msgid/bankpensioner/5a2c1cbd-67d1-46bb-a6be-4ad10ff97b91n%40googlegroups.com.

[Hans Raj Manuja]

It is our fate ! One thing is very certain, leaders of the retirees association, whether it is AIBRF or AIBPARC, are spineless and absolutely useless ! Their leaders are the same persons who were leaders while in service and enjoyed at the cost of the members. They formulated and manipulated to form retirees associations so that they could continue to enjoy at the cost of members till their death ! 

To view this discussion visit https://groups.google.com/d/msgid/bankpensioner/CAM%3DeiW0pkgrxN8c7VDs5boLr9sGh2bd1hxHTcwp05N90BNTffw%40mail.gmail.com.

[Satyanarayana Rao]

It is not fair to blame any retirees associations for our pending issues.
They are doing their best to achieve the UFBU and IBA and the government with their limitations.
It is the UFBU to successfully achieve pension updation etc.

Yahoo Mail: Search, organise, conquer

On Mon, 22 Sept 2025 at 16:21, Hans Raj Manuja

<manuj...@gmail.com> wrote:

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[Lingan Ramalingam]

The immediate duty of the retirees associations should be,to meet UFBU leaders and press them to take up our unresolved and which are already inthe demand list of UFBU before CLC.unfortunately our leaders will talk about  dharna ,hunger strike which will never yield any result.Its right time,already our demands like merger of DA to pre 2022 retirees and revision of ex gratia and ofcourse pension updation.l request all out members to give pressure to retirees leaders to achieve some of our demands.

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[T. Raghava]

I think IBA Policies are group policies.. hence GST is applicable 

Raghava 

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[Kalyanasundaram Subramaniam]

Yes Mr Ragahava. You are right. It is a group policy. Hence GST is applicable.

But what is the purpose of relaxation of GST for individual policies? That is to minimize the hardship of individuals. As premium for retirees' policy is paid by the individuals, it is logical that such exemption should be extended, though technically it is termed as group insurance. 

Please have a look at https://thefederal.com/the-federal-focus/gst-relief-health-insurance-bank-retirees-nirmala-sitharaman-205443

Regards.

S Kalyanasundaram 

[Anantharaman Tg]

Ours is a peculiar Group policy, in that only the retirees

have to pay the premium. The problem is due to that.

How can we expect IBA to take up the issue when

it is their handiwork which has brought us to this 

position.

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[S H Subramanian]

Sir,

It is not a group policy in the strict sense, because individuals are paying the premium. Neither it is an individual policy in the strict sense because it bears only the group  name. A beautiful Arthnareeswara policy !

S H Subramanian

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[Ravinder Singh]

Sir

Does the premium of 5.25 lac RS.40231 includes GST.

Ravinder

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[MOHAN P]

Mr Ravinder

Quoted premium does not include GST

Regards

Mohan.P

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[Mani B]

No pensioner or retiree requested UFBU/IBA for increase in insured amount for officers from selection from 3 lahs and above with a band of 1 lakh each. Negotiators unilaterally increased the ins.amt to 5.25 lakhs and it's premium accordingly to 47k+.

Indirectly, it seems, insurers and negotiators are driving the pensioners to get out of the GMI scheme, if they have any complaints on the negotiations and/or its finalisation. It is a take it or leave it scheme now.

That's IBA/UFBU insurance scheme. It is not group insurance but a gross violation of the health insurance scheme prescribed by IRDA terms.

In the bell the center tongue has been forcibly removed and hence no one could ring the bell, forever.

Now the GMI is common to all in-service staff and retirees/pensioners equally. So, the common concern is expressed since it affects in-service staff also and is a welfare measure paid out of staff welfare fund for them.

If my concern is correct in your opinion, if you feel, you will also feel it without any doubt.

Bala

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[Mani B]

Now, the declared premiums for the IBA GMI schemes are with GST.

If at all any changes in mind happen between "negotiators" and "UG FM" on removal of 18% GST on GMI policies, before 20.10.25, then we can say that they are without GST, since as on date and till official circular is released, let us make up our mind that we are extorted with GST on our GMI.

Bala

On Fri, Sep 26, 2025, 10:59 MOHAN P <moha...@gmail.com> wrote:

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[Hans Raj Manuja]

Rs47473/- is the exact premium including GST.

On Fri, 26 Sept, 2025, 9:25 am Ravinder Singh, <puri...@gmail.com> wrote:

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[MOHAN P]

Dear Friends

As per recent IBA letter to Banks,showing premium on various base policy amount on IBA GMIS  few banks have allready issued circulars to register and provide required funds in accounts with due dates.

UBI has given premium rates including GST in their latest circular,and hope other banks too may follow the same.

Except writing letters to Hon. FM etc no serious steps have been found taken by Unions or Retirees Associations on exemption of GST on premium paid by retirees as allowed in the case of individual Medi policy by GST Council.

As such once premium is collected by banks chances are remote to make any changes under the premium on policy for 2025-26.

Banks can at least subsidise the amount incurred on GST also  which may have some relief to retirees those who have subscribed to GMIS.

To view this discussion visit https://groups.google.com/d/msgid/bankpensioner/CAAAFBgFjue%3DOfEUUB_vRjeKnAo69989bFtoE7BNNt_V6rr5%2BnQ%40mail.gmail.com.

[Ramachandran Bella]

Mohanji

Does it mean premium amount is increased over and previous year for 3.00 lakhs? Leave alone GST 

Thanks 

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[Veera Reddy]

Kotak Mahindra Bank, one of the major private sector banks informed their retirees that premium will be debited on 07/10/2025.

Govt/Insurance Company/IBA will have to decide on GST before debiting the premium.

Regards

Veera Reddy P

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[JSOMA SHEKARA]

Retiree associations should meet UFBU leaders and study the issue and find a solution. 

They should force the IBA to take up the issue with the FM and GST council and clarify the nature of the scheme.

The scheme was offered by IBA and accepted by UFBU. This is the major policy issue of the government and unlikely to get relief this year.

Till the issue is sorted out by IBA, UFBU must convince IBA to direct banks to bear the  GST portion as subsidy for the current year.

Everything else is just time passing.

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[Veera Reddy]

Today, it's the concern of every bank retiree who is sailing with IBA Health insurance.

Besides writing to Hon'ble FM, efforts are made at every level and every opportunity, in today's meeting too.

With all great hope...

Regards 

Veera Reddy P 

To view this discussion visit https://groups.google.com/d/msgid/bankpensioner/CAMCbyDS7G0J_o6V-ev3znULrNw19Jbp1nEorvqGpz2spWzi3%3Dg%40mail.gmail.com.

[Rajender Sharma]

Sir,

It is no use expecting the unions or the United Forum to initiate

concrete steps for zero GST on the IBA policy.

We are getting signals from retiree organisations to accept the IBA

policy with GST, branding it cheap and the best .

It is rather crazy and funny that the entire life and health insurance

will be free from GST except the group policies,

What is the logic ????

R K Sharma 

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[Murali]

If banks subsidize GST, which is highly unlikely, then the subsidy will get added to your income and be liable to tax.

The only solution is to make this a broader issue - exemption from GST for group policies taken exclusively for the benefit of senior citizens.

But given the indifferent attitude of Government, the bank managements and inability of Pensioners' forums to do anything worthwhile,  the question is

Who has the will and will bell the cat?

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[Rajender Sharma]

Sir,

It's an irony that the entire industry of life and health insurance will be GST free whereas the bank pensioners who are members of IBA Group policy,will be penalised.

Retiree organisations have no say in negotiations and are content with writing letters to 

the powers that be with no tangible results.

R K Sharma 

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