The Odisha Power Transmission Corporation Limited (OPTCL) has marked a significant milestone by signing a Memorandum of Understanding (MoU) with Union Bank of India (UBI) to implement an exclusive Salary Package Scheme for all its employees.
The official signing ceremony took place at Lokseva Bhawan, graced by Deputy Chief Minister Kanak Vardhan Singh Deo, who also oversees the portfolios of Energy and Agriculture & Farmers’ Empowerment. “This is a welcoming step for our OPTCL employees. Today’s partnership signifies a long-term, meaningful, and welfare-oriented association between OPTCL and Union Bank of India,” stated Shri Kanak Vardhan Singh Deo.
The event was attended by distinguished guests, including the Principal Secretary of Energy, Shri Vishal Kumar Dev; CMD of OPTCL, Shri Bhaskar Jyoti Sarma; and other officials from the Government of Odisha, alongside senior representatives from Union Bank of India.
Unprecedented Financial Security for OPTCL Employees
The newly launched scheme offers exceptional financial security and substantial benefits to every regular employee, regardless of their position. Key features of the package include:
Comprehensive Insurance Cover: Each employee will receive a Personal Accident Insurance of ₹1.20 Crore, along with an additional Term Life Insurance cover of ₹20 Lakh.
Hospitalisation Support: The scheme includes an annual Hospital Cash benefit of ₹30,000.
Premium Debit Card Benefits: Employees will be provided with a RuPay Select Debit Card linked to their Zero Balance Savings Bank (SB) accounts, which comes with:
- Additional accidental insurance coverage of ₹15 Lakh.
- Annual lifestyle benefits valued at ₹75,000 at no extra cost, which include free airport lounge access, quarterly free health check-ups, and free transactions.
Commitment to Employee Welfare
During the ceremony, it was announced that existing accounts with Union Bank of India will automatically transition to the new scheme, ensuring a seamless process for employees. Additionally, the commitment to the OPTCL family extends beyond current staff. A similar welfare-oriented package, “Union Samman,” has been specially designed for OPTCL pensioners, extending comprehensive benefits to retired employees as well.
OPTCL management expressed gratitude to Union Bank of India for proactively designing a scheme that aligns with the needs of its employees and thanked the Government of Odisha for its ongoing guidance and support.
