The government of Telangana has introduced a ₹1 crore accident insurance cover for its power utilities’ staff, benefiting 51,868 employees. The scheme is a result of a memorandum of understanding (MoU) between the power utilities and the State Bank of India (SBI). To avail of the insurance scheme, employees will need to open a bank account with SBI. The insurance cover will provide employees with a sense of security and confidence, allowing them to work more efficiently.
In the event of an accident, the insurance scheme will provide a claim of ₹1 crore to the dependents of the deceased employee. Additionally, if an employee suffers a permanent disability due to an accident, they will receive a claim of ₹80 lakh. The scheme also includes education and marriage loan facilities for employees who open an account with SBI.
The Deputy Chief Minister of Telangana, Mallu Bhatti Vikramarka, launched the scheme and praised the efforts of the power utilities’ employees in ensuring uninterrupted power supply despite a surge in peak demand. The scheme is a historic decision for the state, providing employees with a sense of security and assurance. The insurance cover will be extended to employees without any premium contribution from them, and their dependents will receive a claim of ₹10 lakh in the event of natural death.
Furthermore, four members of the employee’s family will also be covered under the scheme, with each member receiving an insurance cover of ₹5 lakh. This benefit can be availed even if the employee has a zero balance in their account. The introduction of this scheme is a significant step towards recognizing the hard work and dedication of the power utilities’ employees in Telangana.
The state government has also unveiled a new green energy policy to meet the increasing energy demand. The policy aims to add 20,000 MW of green energy capacity by 2030. The launch of the insurance scheme and the new green energy policy demonstrates the government’s commitment to the welfare of its employees and the development of the state’s energy sector.