Lucknow: In a step towards social and economic empowerment of teachers, the basic education department will enter into an agreement with the State Bank of India (SBI) during the launch of CM cashless medical facility for teachers on Jul 8 in Varanasi by the chief minister Yogi Adityanath.The initiative is expected to benefit 10 lakh permanent and contractual employees, including teachers, shiksha mitras, instructors, mid-day meal staff and other associated workers of the department. Through SBI’s specially designed salary package, beneficiaries will gain access to enhanced insurance protection and a range of banking services.According to the proposal, around 4.5 lakh permanent employees and 5.5 lakh contractual personnel will be brought under the ambit of the MoU. “The move is intended to provide a unified framework of social and economic security for all eligible workers linked to the department,” said a govt spokesperson.The agreement, said officials, is beyond conventional banking services and is aimed at creating a comprehensive social security net for employees. The state govt aims to ensure that every eligible worker receives modern banking facilities along with robust financial protection, helping secure their future and that of their families.Under SBI’s salary package, eligible permanent employees will receive a group term life insurance cover of ₹10 lakh, a personal accident insurance cover of ₹1 crore, and a permanent disability insurance cover of ₹1 crore. In addition, they will be entitled to an air accident insurance cover of up to ₹1.6 crore.The package will also include add-on benefits to support the education of employees’ children and the marriage of daughters in the event of an unforeseen tragedy.Contractual employees earning a net monthly salary of more than ₹10,000 will be covered by a personal accident insurance policy of up to ₹30 lakh. They will also receive insurance coverage of ₹30 lakh in case of permanent disability and ₹15 lakh for partial disability. An air accident insurance cover of ₹30 lakh will also be available under the scheme.For contractual staff earning less than ₹10,000 per month, a zero-balance SBI account and RuPay debit card will provide insurance coverage of up to ₹1 lakh.Post the agreement, the employees already maintaining salary accounts with SBI will be migrated to the bank’s special salary package and will automatically become eligible for the associated benefits.Those receiving salaries through other banks will be convinced to open salary accounts with SBI so that they can avail themselves of the insurance protection and other benefits offered under the agreement.
