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Singareni: Convert Bank Accounts to ‘Corporate Salary Account’ for ‘Free Accident Insurance Facility’: Director N. Balaram calls

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All the workers and officers working in Singareni should immediately convert their bank accounts into ‘Corporate Salary Account’ so that they can get 40 to 62 lakhs of ‘Accident Insurance Scheme’ benefits, Mr. N. Balaram, Director, Finance and Personnel of the company said in a statement. It is stated that there is no need to pay even a single rupee for this scheme.

He said that the Singareni company is paying the monthly salaries to the workers and officials through banks like ‘State Bank of India’, ‘Union Bank of India’ and all 44 thousand employees across Singareni are being paid through their savings bank accounts. These are about 300 crore rupees per month.

Meanwhile, with the intention of providing more benefits to the officers and workers who have bank accounts, they discussed with the high-ranking officials of the banks and persuaded them to implement the free ‘Accident Insurance Scheme’, which has been implemented for the past one year.

In order to qualify for this scheme, every worker and officer having a savings account will have to convert their accounts into ‘Corporate Salary Account’. Singareni said that there are 44,000 bank accounts for employees and officers, and out of these, around 30,000 accounts have already been converted into ‘Corporate Salary Account’ accounts by the banks. He said that the ‘Accident Insurance Scheme’ implemented by banks is applicable to all those who have converted to a corporate salary account.

According to the scheme of ‘State Bank of India’ insurance of 40 to 50 lakh rupees is applicable and according to the scheme of ‘Union Bank of India’ insurance is applicable from 40 to 62 lakh rupees. Also, their insurance schemes from ‘Canara Bank’, ‘Indian Overseas Bank’ and other banks are also applicable.

The Director suggested that the ATB cell of the area can contact them for complete details and get help.

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