Government Launches Major Insurance Coverage for Coal India Employees

The government announced a substantial personal accident insurance scheme for Coal India employees on Tuesday. Regular employees will receive Rs 1 crore in coverage, while contract workers will receive Rs 40 lakh.

The initiative, part of a new corporate salary package launched by Coal and Mines Minister G Kishan Reddy, aims to enhance financial security for Coal India's workforce. Over 2 lakh regular employees and 44,000 contract workers have been enrolled in the scheme, which is facilitated by a partnership with 10 public sector banks and the Chhattisgarh State Gramin Bank. The benefits are provided at no cost to the employees, underscoring a strong focus on welfare.

The ex gratia amount for mine accident fatalities has also been increased from Rs 15 lakh to Rs 25 lakh. These measures are part of Coal India's mission to ensure 'Zero Harm' and swiftly support affected families. Hindustan Copper Ltd has similarly introduced an insurance policy with State Bank of India, providing Rs 1 crore coverage for regular employees.