Indian Railways has partnered with the State Bank of India (SBI) to provide enhanced insurance coverage for employees who hold salary accounts with SBI.
The Memorandum of Understanding (MoU) was signed on September 1, 2025.
Under the scheme, employees will now receive accidental death cover of up to INR10m ($113,600) and natural death cover of INR1m at no premium cost.
According to an SBI post, railway staff will be covered under both personal and air accidental insurance, strengthening financial security for them and their families.
The package also includes additional lifestyle benefits and privileges.
At the event, SBI also issued a cheque for INR114m to cover accidental insurance claims for the families of deceased railway employees.
Under the MoU, SBI will be handling the salaries of INR1.26m railway employees.
Other benefits related to their salary account, such as lifestyle privilege, will continue in addition to the enhanced accidental insurance coverage.