CMD of Singareni Collieries N. Balram at a meeting with bankers in Hyderabad on Saturday. | Photo credit: By arrangement
HYDERABAD
The management of Singareni Collieries Company Ltd (SCCL) has urged seven banks operating in the mining areas to introduce ₹50,00,000 accident insurance for contract employees and ₹20,000,000 life cover for regular employees in case of natural death.
In a meeting with bankers – State Bank of India, Union Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, Indian Overseas Bank and HDFC – held here on Saturday, SCCL Chairman and Managing Director N. Balram said that Singareni was the first company in the country to introduce such a huge insurance cover for its employees – both permanent and contract.
He explained that the accident insurance scheme provides compensation of up to ₹ 1.25 lakh to regular employees and up to ₹ 40 lakh to contract and outsourced employees/employees in case of their death in an accident. He appealed to bankers to extend the cover to ₹50,000 in case of contracted/outsourced personnel and to ₹20 lakh. So far, the banks have provided about ₹30 crore to the bereaved families of 34 employees/workers to ensure their financial security, he noted.
Published – 8 Nov 2025 20:41 IST
