New Delhi: Indian Railways & State Bank of India have recently signed MoU for enhanced insurance benefits to Railway Employees.
Under this MoU, insurance coverage for Railway employees maintaining salary accounts with SBI has been significantly enhanced. In case of accidental death, the insurance benefit has been increased to Rs 1 crore, compared to the current coverage of Rs 1.20 lakh, Rs 60,000 and Rs 30,000 for Group A, B, and C employees respectively covered under CGEGIS.
Additionally, all Railway employees holding only a salary account with SBI will now be eligible for natural death insurance coverage of Rs 10 lakh—without the need for paying any premium or undergoing any medical examination.
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With nearly 7 lakh Railway employees maintaining salary accounts with SBI, this agreement marks a major step towards employee welfare, reflecting a caring and constructive partnership between Indian Railways and SBI.
ome of the key complimentary insurance covers under this MoU include: Air Accident Insurance (Death) Cover of Rs 1.60 crore plus an additional up to Rs 1.00 crore on RuPay Debit Card; Personal Accident (Permanent Total Disablement) Cover of ₹1.00 crore; and Personal Accident (Permanent Partial Disability) Cover of up to Rs 80 lakh.
“This MoU between two leading entities is employee-centric, compassionate, and designed to bring exclusive benefits to the workforce—especially frontline railway personnel in Group C and others,” Ministry of Railways has said.
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