SBI strengthens customer relationship with ‘Atoot’ scheme

In a bid to strengthen its long-term relationship with employees, State Bank of India (SBI) has introduced a scheme, ‘Atoot’, to provide immediate relief to the family of an employee dying in harness. This scheme includes financial support for the funeral expenses to the next of kin (NOK); support, including embalming cost, cost of coffin, transportation cost, in case death occurs at other places; and non-financial support, including arranging for the stay of family members; keeping the body in mortuary/ arrange for preservation of the body till NOK comes; and making necessary arrangements for the processing and transportation of the body.

In case of sudden demise of employees, the bereaved family needs immediate support, financial as well as for taking care of last rites/ funeral, which may also involve transportation of the mortal remains of the deceased employee, the bank said in a circular. “In the bank, apart from the superannuation benefits (pension, PF, gratuity) we also have provisions for ex-gratia (there is provision for providing Rs 1 lakh ex-gratia in advance), compassionate appointment (if eligible under the scheme), and cash compensation (in case of accidental death while on duty).

“However, these benefits take time to reach the needy family …. The bank is committed to take care of our employees and their family members, while they serve it and also after it,” according to the circular. The scheme will be applicable to all regular employees of the bank.

Popular from web

Join 30 hour Online International Certificate course on

Risk Management

 

Please click here to view details

View short video here