Railway Staff With SBI Salary Accounts To Get ₹1 Crore Accidental Cover

2025-09-02 02:03:20

(MENAFN- Kashmir Observer)
Photo Credits: . X/@RailMinIndia

New Delhi- The Indian Railways has signed a Memorandum of Understanding (MoU) with State Bank of India to provide significant insurance cover for its employees and their families, an official statement said.

Under the MoU, signed on Monday in the presence of Railway Minister Ashwini Vaishnaw, employees who maintain salary accounts with SBI will get accidental death insurance of Rs 1 crore, a press noted issued by the Railways Ministry said.

This is a significant increase from the current coverage of Rs 1.20 lakh, Rs 60,000 and Rs 30,000 for Group A, B, and C employees, respectively, under the Central Government Employees Group Insurance Scheme (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,” the press note said.

“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,” it said.

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