Government allows ESIC to invest up to 15% of its surplus funds in equity via ETFs

The Employee State Insurance Corporation (ESIC) to invest up to 15% of its surplus funds in equity via exchange-traded funds. This decision was taken in the 189th meeting of ESIC under the Union Minister of Labour and Employment Shri Bhupender Yadav.

Due to the relatively low returns on debt instruments coupled with the need to diversify, the ESI Corporation accorded its approval for investments of surplus funds in equity, restricted to Exchanged Traded Funds. The initial investment shall start at 5% and increase up to 15% gradually, after review of two quarters. 

ESIC to invest up to 15%

Some Highlights:
ESIC to upgrade and modernize its infrastructure under ‘Nirman Se Shakti’ initiative says Union Labour Minister Shri Bhupender Yadav
ESIC to set up new 100 bedded ESIC Hospital at Shyamlibazar, Agartala, Tripura and 100 bedded ESIC Hospital at Idukki, Kerala
ESIC to increase the number of seats for Ward of Insured Persons at ESIC Nursing Colleges and also to start Ph.D., MDS, Nursing and Paramedical Courses from coming sessions
Approval accorded for investments of surplus funds in equity, restricted to Exchanged Traded Funds
Monthly Digital Journal - ESI Samachar released by Union Labour and Employment Minister

With the vision to improve the healthcare and benefits services delivery mechanism and strengthen the infrastructure of ESIC towards managing the increasing number of insured workers coming into the ambit of ESI Scheme, ESIC approved the proposals for setting up new 100 bedded ESIC Hospital at Shyamlibazar, Agartala, Tripura and 100 bedded ESIC Hospital at Idukki, Kerala. The 100 bedded ESIC Hospitals at Agartala and Idukki will cater to the medical needs of around 60 thousand beneficiaries each.

ESI Corporation accorded in-principal approval for execution of Annual Repair Maintenance & Operational work (ARMO) and Special Repair (SR) works by the Engineering Wing under the Project Management Division (PMD) of ESI Corporation. It was also decided to execute the Capital works in ESIC through Central / State PSUs besides CPWD. A fresh empanelment of such Central / State PSU will be invited by the ESIC for empanelment in due course.

Two winners of the Architectural Design Competition for 500 bedded ESIC Hospital, Manesar were felicitated by the Union Labour Minister with a prize money of Rs. 2 Lakh and Rs. 1.5 Lakh respectively. The design competition was announced by Union Labour Minister during laying the foundation for 500 bedded ESIC Hospital at Manesar. The competition was conducted to encourage and give opportunities to young architect students to come up with the best architectural designs for ESIC Hospital, Manesar. Similar type of competition is also being organized for ESIC Hospitals, Sanand and Kalol, Gujarat. ESIC to invest up to 15% Read More...

The Annual Accounts of the Corporation for the year 2021-22 together with the report of CAG and Annual Report of ESI Corporation for the year 2021-22 along with its analysis were approved and adopted by the Corporation. It will now be laid in the Parliament after approval of the Ministry of Labour and Employment, Government of India.