Bhubaneshwar: In a significant move to enhance the welfare of its personnel, Odisha Police has signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) to launch a comprehensive Police Salary Package (PSP) for its officers and staff. The agreement, formalized on September 30, 2024, introduces a variety of financial and insurance benefits, providing essential support to Odisha Police employees in times of need.
A key highlight of the new Police Salary Package is the substantial financial protection it offers to Odisha Police personnel. The Personal Accident Insurance (PAI) provides ₹1 crore (₹100 lakh) in coverage for accidental death, applicable both on and off duty. In the case of air travel-related accidents, this amount increases to ₹1.6 crore (₹160 lakh). Furthermore, officers suffering permanent total disability due to accidents will receive up to ₹1 crore, while those facing permanent partial disability are eligible for ₹80 lakh.
The Police Salary Package offers several key benefits to personnel who maintain salary accounts with SBI. Notably, employees can now open zero-balance salary accounts, eliminating the requirement for a minimum balance. A standout feature of this package is the Personal Accident Insurance (PAI), which provides coverage of ₹100 lakh in the event of death, whether on or off duty. For air accidents, this coverage increases to ₹160 lakh.
Additionally, the package includes disability coverage for personnel who suffer from permanent disabilities due to accidents, with benefits reaching up to ₹100 lakh for total disability and ₹80 lakh for partial disability. To support family needs, the package offers provisions for child education and marriage, including up to ₹10 lakh for the higher education and marriage expenses of girl children and ₹8 lakh for boys aged 18 to 25, contingent upon an admissible PAI claim.
Support Independent Journalism? Keep us live.
Further benefits include term insurance of ₹10 lakh, healthcare provisions for burn injuries with coverage for plastic surgery expenses up to ₹10 lakh, and assistance with ambulance services and transportation in case of accidents. Under the “SBI Rishtey” scheme, up to four family members of Gold and above variant account holders can also open regular savings accounts without minimum balance requirements, along with access to free debit cards and various financial services.
SBI will also provide eligible police personnel access to personal and home loans, including the SBI Xpress Credit Loan, subject to the bank’s terms and conditions. Odisha Police has clarified that it holds no liability in the event of disputes or claims related to loans obtained through this package.
Special insurance provisions have been included for officers operating in high-risk environments. This entails an additional ₹10 lakh coverage for personnel involved in operations against terrorists, Naxalites, or anti-national activities. Another ₹10 lakh cover is available for those deployed on foreign soil, though these benefits are mutually exclusive.
The new Police Salary Package aims to extend financial security to Odisha Police personnel and safeguard their families in critical situations. This initiative highlights the state’s commitment to the welfare of its law enforcement officers, providing essential support in recognition of their service and dedication.
Both Odisha Police and SBI are dedicated to ensuring that all employees across the state are informed about the new benefits, making certain that everyone can take advantage of this welfare initiative.
Comments are closed.