KKRTC gifts employees a premium-free accident insurance scheme worth Rs. 1.20 crore
Bengaluru: KKRTC, the state road transport corporation, is actively working to provide best transportation services to the public and has been regularly implementing various welfare schemes for the benefit of its employees.
To safeguard the employees and their families, KKRTC has implemented another major welfare initiative, a premium-free accident insurance scheme worth Rs.1.20 crore for its employees by entering into an MoU with Union Bank of India.
In the august presence of Ramalinga Reddy, Minister for Transport and Muzarai, a Memorandum of Understanding (MoU) was signed between Navneeth Kumar, Regional Head of Karnataka Zone, Union Bank of India and Manging Director Rachappa of KKRTC under Union Super Salary Account (USSA) scheme, starting from December 21, 2023. During the event, Minister while addressing the gathering said, considering the unforeseen incidents resulting in the loss of lives among the corporation's employees, KKRTC aims to provide a substantial amount to the dependents of the deceased employees. To achieve this goal, an MoU has been made with the Union Bank of India to offer significant financial support through the USSA scheme.
He said, in the event of an accident resulting in the unfortunate demise of an employee during on duty or off duty, the dependents will receive a substantial amount. He also said, additionally, employees receiving permanent disability or partial permanent disability will also be eligible for a Rs 1 crore benefit. Furthermore, a separate accident insurance scheme providing Rs 15 lakhs coverage on debit cards is also introduced. He said, for the first time in the country, among the state transport corporations, a significant Rs 1.20 crore accident insurance scheme is implemented for the employees of KKRTC.
During the event, S Bharath, Managing Director of NWKRTC, Dr. K Nandhini Devi, Directors (P&V), Venkat Sudheer Chedella, Regional Manager , Union Bank of India, Kalaburagi, Nagaraj Deshanur, Chief Manager CRC Bengaluru, were present.