INDIA, SEPTEMBER 2025 —Indian Railways has strengthened employee welfare with a new partnership with the State Bank of India (SBI), providing expanded insurance benefits for its workforce. The agreement aims to bolster financial security for staff across one of Asia’s largest rail networks.

The Memorandum of Understanding (MoU), signed on September 1, 2025, offers substantial improvements to insurance coverage for railway employees holding SBI salary accounts. Under the scheme, employees are entitled to accidental death coverage of up to INR 10 million (approximately $113,600) and natural death coverage of INR 1 million at no extra cost. The policy includes both personal and air accident insurance.

The initiative is expected to benefit around 1.26 million railway staff whose salaries are managed by SBI, providing a stronger safety net for employees and their families. The partnership also continues existing lifestyle benefits associated with SBI salary accounts.

In a related development, SBI recently disbursed INR 114 million to cover accidental insurance claims for families of deceased railway employees, demonstrating the tangible impact of such programs.

Officials say the collaboration reflects Indian Railways’ commitment to employee welfare, recognizing that a secure workforce is essential for the operational efficiency, modernization, and long-term growth of the nation’s rail network.
Source: Asia Insurance Review