In a landmark move, SBI and Indian Railways have partnered to provide massive insurance benefits for Railway employees holding SBI salary accounts. Under the new Memorandum of Understanding (MoU), employees now receive a personal accident cover of ₹1 crore for permanent total disablement, a dramatic increase from the previous limits of ₹1.2 lakh, ₹60,000, and ₹30,000 for Group A, B, and C employees.

Additionally, SBI is offering up to ₹80 lakh cover for permanent partial disability, along with ₹1.6 crore air accident cover for death, plus an extra ₹1 crore on RuPay debit cards. Even employees with only a salary account will get a natural death cover of ₹10 lakh, without paying any premium or undergoing medical tests.

Nearly 7 lakh Railway employees are expected to benefit from these enhanced insurance policies. The coverage also extends to SBI debit cardholders, with specific benefits for non-air and air accidental deaths depending on the card variant.

According to the Ministry of Railways, this MoU significantly enhances the safety net for employees, ensuring financial security for families in case of accidents or untimely death.