Money & Banking

SBI’s ‘Atoot’ scheme to provide relief to family of employees dying in harness

Our Bureau Mumbai | Updated on December 04, 2019 Published on December 04, 2019

To strengthen its long-term relationship with employees and to imbibe in them a sense of belongingness, 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 ₹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, irrespective of cadre, including employees on mobile duty, deputation, contractual employees. Suspended employees will also be covered. However, it will not include retired employees, retired officers engaged on contract basis, officers retired under section 19(3), and employees of outsourced agencies.

The financial support includes ₹20,000 (in cash) to the next of kin of the deceased employee. In case an employee’s death occurs at other places, the bank will provide support for the transportation of mortal remains at its own cost and other related costs pertaining to embalming, cost of coffin, transportation cost and travel expenses for an escort.

Published on December 04, 2019
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