Special scheme for cops having SBI accounts

Tribune News Service

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Shimla, September 24

The State Bank of India (SBI) has launched a scheme with special benefits for police personnel having their salary accounts with it. The scheme has a salient feature that the family of an account holder will be paid a compensation of Rs 30 lakh in case of his death in accident during service.

As per the memorandum of understanding (MOU) signed between the SBI and the Himachal Police, the bank will pay a compensation of Rs 30 lakh to the family of the salary account holder in case of accidental death and Rs 2 lakh in case of natural death.

The police personnel having salary accounts in any branch of the SBI will be entitled to draw the benefits. “The scheme will be of great help to the families of police personnel, who come from a humble background as their untimely death lands their dear ones in an acute financial distress,” said a police spokesperson.

The compensation amount would be deposited in the bank account under the normal process.

Recently, the widow of Head Constable Malkiat Singh of Kangra district, who died in an accident, was awarded a compensation of Rs 30 lakh by the bank while widows of Bhagat Singh Thakur (CTS) and constable Sanbir Singh, who had a natural death, were given Rs 2 lakh each.