Bank of Baroda signs MoU with Singareni to provide special benefits to miners

MoU includes special benefits such as free comprehensive Personal Accident Insurance Cover, Free Hospicash facility, special offers on retail loans, debit/credit cards

Hyderabad: Bank of Baroda (BoB) on Thursday announced the signing of a Memorandum of Understanding (MoU) with Singareni Collieries Company Limited for the Baroda Government Salary Package for their over 42,000 employees.

The MoU covers special benefits, including enhanced free comprehensive Personal Accident Insurance Cover (PAI), Free Hospicash facility, special offers on retail loans, debit and credit cards and a host of other benefits.

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The package also has an add-on cover with personal accident insurance, reimbursement of girl child marriage (18-25), higher education cover and transportation of imported medicine.

There are many benefits being offered by BoB to the Singareni employees, including personal accident insurance up to Rs 1.25 crore in case of accidental death on duty and up to Rs 100 lakh off-duty, and Group Term Life Insurance ranging from Rs 11 lakh to Rs 15 lakh.

The MOU was executed on January 5 in the presence of Chief Minister A Revanth Reddy, Deputy Chief Minister Bhatti Vikramarka Mallu, Chief Secretary A Santhi Kumari, Singareni Collieries CMD N Balram and others.