Around 1.75 lakh government employees in Jharkhand will receive enhanced banking and financial security benefits under a special salary package following a Memorandum of Understanding (MoU) signed between the state government and Union Bank of India on Wednesday.
The agreement was signed between the state's Finance Department and Union Bank of India at Project Building in Ranchi in the presence of Chief Minister Hemant Soren. It aims to provide government employees with a range of premium banking facilities, including insurance coverage, healthcare support and loans at concessional interest rates.
Under the package, employees maintaining salary accounts with Union Bank will be eligible for accidental death insurance, financial protection in cases of total or partial disability, emergency medical assistance, including air ambulance services, and concessional personal, home and vehicle loans. Free ATM cards and other digital banking facilities will also be provided.
Speaking on the occasion, Soren described the agreement as a positive initiative for government employees and expressed hope that the partnership would expand beyond the salaried workforce to benefit ordinary citizens across the state.
Emphasising financial inclusion, the Chief Minister urged banks to play a more active role in the economic empowerment of poor, deprived and tribal communities. He said banking facilities should not remain confined to government employees but must reach people living in remote rural areas as well.
Pointing out that Jharkhand has a predominantly tribal population, Soren said banks should give special attention to the financial security and economic needs of tribal families, keeping in mind their distinct social and economic circumstances.
Referring to the contribution of tribal icons such as Bhagwan Birsa Munda to the country's freedom struggle, he said the state had a responsibility to ensure that tribal and rural communities received greater opportunities for economic empowerment.
The Chief Minister also called upon banks to simplify lending procedures to help young people, small entrepreneurs and economically weaker sections access credit for self-employment and business activities.
He said the state government was implementing several schemes to promote self-reliance among youths and that easier access to institutional credit would help them establish livelihood opportunities and strengthen rural economic activity.
Soren stressed that building public confidence in the banking system was equally important and urged financial institutions to make their services more accessible to ordinary citizens.
Minister Radhakrishna Kishore, Chief Secretary Avinash Kumar, Secretary Prashant Kumar, Union Bank of India Zonal Head Guna Chandra Gami, Ecosystem Hub Head Ranjit and senior officials of the bank and various state government departments attended the programme.