Railways Partners with SBI for Enhanced Employee Insurance Coverage

The Indian Railways has embarked on a promising partnership with the State Bank of India, aiming to bolster the welfare of its workforce through enhanced insurance coverage. Signed in the presence of Railway Minister Ashwini Vaishnaw, the new scheme introduces substantial benefits for employees and their families.

Under this agreement, railway employees maintaining salary accounts with SBI will now benefit from accidental death insurance coverage of Rs 1 crore. This marks a significant increase from existing policies, which offered Rs 1.20 lakh, Rs 60,000, and Rs 30,000 to Group A, B, and C employees, respectively.

Furthermore, employees holding an SBI salary account will receive Rs 10 lakh natural death insurance automatically, with no premiums or medical examinations required. Additionally, the agreement includes Rs 1.60 crore cover for air accidents and various forms of accident disability coverage. This initiative underscores the Indian Railways' commitment to its employees' welfare and security.

(With inputs from agencies.)