TG power utilities join hands with SBI, launch ₹1 crore accident insurance cover for employees

Deputy Chief Minister Mallu Bhatti Vikramarka, along with Energy and SBI officials, unveiling the ₹1 crore accident insurance cover for power utilities’ staff in Hyderabad on Tuesday.
| Photo Credit: By Arrangement

The power utilities of Telangana have formally introduced the ₹1 crore accident insurance cover for its employees by entering into a memorandum of understanding (MoU) with State Bank of India. The scheme will benefit 51,868 employees working for TG-Genco, TG-Transco, TG-SPDCL and TG-NPDCL.

According to officials, the scheme will benefit 51,868 employees, and they will be required to open bank accounts with SBI to avail the insurance scheme.

In case of death in accidents, their dependents would get ₹1 crore claim and ₹80 lakh in case of suffering permanent disability in the accident. They would also be extended education and marriage loan facility on opening the account with the bank.

Speaking at the MoU signing event, Deputy Chief Minister Mallu Bhatti Vikramarka said that introduction of the insurance scheme for power employees is a historic decision in the State’s annals as the scheme would provide confidence and assurance to power staff to put in more hard work.

The scheme would be extended to employees without any premium contribution from them. If natural death, the dependents would get ₹10 lakh insurance claim.

Along with employees, four other members of his or her family would get insurance cover of ₹5 lakh each as part of the scheme and they could avail the insurance benefit even in case of zero balance in their account.

The Deputy CM complimented the efforts of the power utilities’ employees in ensuring uninterrupted power supply despite an increase in the peak demand to 17,162 megawatt in March this year.

To meet the increasing energy demand, the State had unveiled a new green energy policy to add 20,000 MW of green energy capacity by 2030. Principal Secretary Sandeep Kumar Sultania, Chairman and Managing Director of TG-Transco D. Krishna Bhaskar and others participated.