Sept 2025 : <\/strong>A landmark Memorandum of Understanding (MoU) was signed today between two of India\u2019s leading institutions \u2013 Indian Railways (IR), one the largest rail networks in the world, and the State Bank of India (SBI), the country\u2019s largest public sector bank. The ceremony was honoured by the August presence of the Hon\u2019ble Minister for Railways, Information & Broadcasting, Electronics & Information Technology, Shri Ashwini Vaishnaw; the Chairman, Railway Board, Shri Satish Kumar; and the Chairman, SBI, Shri C.S. Setty.<\/p>\n\n\n\n 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 \u20b91 crore, compared to the current coverage of \u20b91.20 lakh, \u20b960,000 and \u20b930,000 for Group A, B, and C employees respectively covered under CGEGIS.<\/p>\n\n\n\n Additionally, all Railway employees holding only a salary account with SBI will now be eligible for natural death insurance coverage of \u20b910 lakh\u2014without the need for paying any premium or undergoing any medical examination.<\/p>\n\n\n\n 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.<\/p>\n\n\n\n Some of the key complimentary insurance covers under this MoU include: Air Accident Insurance (Death) Cover of \u20b91.60 crore plus an additional up to \u20b91.00 crore on RuPay Debit Card; Personal Accident (Permanent Total Disablement) Cover of \u20b91.00 crore; and Personal Accident (Permanent Partial Disability) Cover of up to \u20b980 lakh.<\/p>\n\n\n\n This MoU between two leading entities is employee-centric, compassionate, and designed to bring exclusive benefits to the workforce\u2014especially frontline railway personnel in Group C and others.<\/p>\n\n\n\n Some of the main benefits are detailed below:<\/p>\n\n\n\n Add- on Covers:<\/p>\n\n\n\n This proposed arrangement purely voluntary in nature for all SBI account holders (Railway Employees) and also Railway Administration continue to enter similar \/ more attractive scheme with the other Banks<\/p>\n\n\n\n Team Maverick<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Railway Employees Maintaining Salary Accounts with SBI to Get Enhanced Insurance Coverage of \u20b91 Crore for Accidental Death Railway Employees to Get \u20b91.6 Cr Air Accident (Death) Cover Plus an Additional up to \u20b91 Cr on RuPay Debit Card Personal Accident (Permanent Total Disablement) Cover of \u20b91.00 crore & Personal Accident (Permanent Partial Disability) Cover …<\/p>\n","protected":false},"author":10,"featured_media":69374,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[80],"post_format":[],"flags":[],"class_list":["post-69373","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-news","tag-india"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/mavericknews30.com\/wp-json\/wp\/v2\/posts\/69373","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mavericknews30.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mavericknews30.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mavericknews30.com\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/mavericknews30.com\/wp-json\/wp\/v2\/comments?post=69373"}],"version-history":[{"count":2,"href":"https:\/\/mavericknews30.com\/wp-json\/wp\/v2\/posts\/69373\/revisions"}],"predecessor-version":[{"id":69441,"href":"https:\/\/mavericknews30.com\/wp-json\/wp\/v2\/posts\/69373\/revisions\/69441"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mavericknews30.com\/wp-json\/wp\/v2\/media\/69374"}],"wp:attachment":[{"href":"https:\/\/mavericknews30.com\/wp-json\/wp\/v2\/media?parent=69373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mavericknews30.com\/wp-json\/wp\/v2\/categories?post=69373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mavericknews30.com\/wp-json\/wp\/v2\/tags?post=69373"},{"taxonomy":"post_format","embeddable":true,"href":"https:\/\/mavericknews30.com\/wp-json\/wp\/v2\/post_format?post=69373"},{"taxonomy":"flags","embeddable":true,"href":"https:\/\/mavericknews30.com\/wp-json\/wp\/v2\/flags?post=69373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Personal Accident insurance (Death) Cover<\/td> \u20b91.00 Cr<\/td><\/tr> Air Accident Insurance (Death) Cover<\/td> \u20b91.60 Cr & additional up to Rs 1.00 Cr on Rupay Debit Card<\/td><\/tr> Personal Accident (Permanent Total Disablement<\/td> \u20b91.00 Crore<\/td><\/tr> Personal Accident (Permanent Partial Disability):<\/td> up to \u20b980 Lacs<\/td><\/tr> Group Term Life Insurance (Death):<\/td> \u20b910 lacs<\/td><\/tr> Personal Accident insurance (Death) Cover for Railway Pensioners<\/td> \u20b930 Lacs<\/td><\/tr> Personal Accident insurance (Death) Cover for 4 Family members (SBI Rishtey accounts (5 Lacs per family member)<\/td> Up to \u20b920.00 Lacs<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n Higher Education Insurance Cover for Child Education (for children of deceased employee- Accidental death)<\/td> \u20b98.00 Lacs (Male Child) \u20b910.00 Lacs (Girl Child)<\/td><\/tr> Girl Child (18 yrs to 25 yrs) marriage Insurance Cover (for children of deceased employee-Accidental death)<\/td> \u20b910.00 Lacs (Rs. 5.00 Lacs each in case of two Girl Child)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n \n
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