Air Commodore Mohan Lal Verma (11708) Accts was commissioned on 23 Jun 1968 and is presently working as Director, Air Force Group Insurance Society since 29 Jun 1998. During his service career the Air Officer has held many important appointments like Command Accounts Officer, Deputy Director Financial Planning, Senior Accounts Officer of Major flying Bases. He has also served as Chief Instructor in Nigeria in Accounts Faculty. He is law graduate and graduate of College of Defence Management. For his devotion to duty and distinguished service he has been commended twice by AOC-in-C and once by Chief of Air Staff.
As Director AFGIS, the officer has the onerous responsibility of providing insurance cover for the entire personnel of the Indian Air Force. After taking over as Director AFGIS, he introduced proactive managerial strategies to ensure recovery of dues from Non-Performing Assets. Vigorous, innovative and multi pronged strategies adopted by the Air Officer resulted in recovery of a sum of Rs. 30 crore, which has not only reduced the non-performing assets but also enhanced the earnings of the Society. To intensify efforts in this direction, he constituted a recovery team, which has further improved the results in this Key Result Area. Simultaneously, necessary shift in the investment strategy was carried out in keeping with the times.
Introduction of schemes for Computer loans, conveyance loans and liberalisation of House Building Advance by the society under his direction not only ensured safety of funds but also enriched the quality of life and satisfaction level of all Air Force personnel. With exemplary professionalism, foresight and commitment, he not only revised various ongoing welfare schemes but also successfully devised and launched Post Retirement Insurance Scheme-99 for retired personnel. He also undertook the task of revising the IAFP 3601-Administration and Management of Air Force Group Insurance Society for the benefit of all the serving as well as retired personnel.
For distinguished service of a high order, the Hon'ble President is pleased to award 'Vishisht Seva Medal' to Air Commodore Mohan Lal Verma.