Railways, SBI Sign MoU for Enhanced Insurance Benefits

On 1st September 2025, Indian Railways and the State Bank of India (SBI) signed a Memorandum of Understanding (MoU) to provide enhanced insurance coverage for railway employees maintaining salary accounts with SBI.

Under the MoU, the accidental death insurance cover for railway employees has been significantly raised to ₹1 crore, replacing the earlier CGEGIS benefits of ₹30,000 to ₹1.20 lakh depending on employee group.
The agreement introduces a natural death insurance cover of ₹10 lakh, provided free of cost and without any medical examination, to all eligible employees holding salary accounts with SBI.
Nearly 7 lakh railway employees are expected to benefit from this upgraded insurance package, reflecting the scale of the initiative.
The MoU also includes air accident (death) insurance of ₹1.60 crore, along with an additional coverage of up to ₹1 crore available through RuPay Debit Cards.