PNB Unveils Enhanced Salary Scheme for SCCL Employees

Punjab National Bank (PNB), a state-owned financial institution, has entered into a collaboration with The Singareni Collieries Company Limited (SCCL) to launch an innovative salary saving scheme. This venture features enhanced accidental insurance coverage worth Rs 1.25 crore for the benefit of SCCL employees.

The agreement was formalized at a ceremonial event in Hyderabad attended by PNB's MD and CEO Ashok Chandra and senior officials from both entities. The scheme represents a significant step in offering comprehensive financial protection to those in the coal mining sector and their families.

Ashok Chandra expressed that this agreement with SCCL sets a precedent for other sectors, with the scheme now available for SCCL employees and plans to expand similar coverage to other industries in the near future. The scheme provides up to Rs 5 lakh for the education of two dependent children, and Rs 10 lakh for the marriage of up to two daughters.

(With inputs from agencies.)