State-owned Bank of Baroda on Saturday mentioned it’ll present an ex-gratia cost of Rs 10 lakh to the subsequent of kin of business correspondents (BCs) in case of loss of life attributable to COVID-19. It may even present health insurance coverage cover of Rs 60,000 to the BCs. The financial institution has taken steps for BCs’ monetary safety, in phrases of ex-gratia cost of Rs 10 lakh to the nominee in case of loss of life attributable to COVID-19, and health insurance coverage facility of Rs 60,000 to every lively BC, it mentioned in a press release.
Bank of Baroda mentioned to make sure upkeep of hygiene and security, it’s also offering further assist in tranches to maintain the BC factors sanitised and clear by sanitisers, disinfectants, use of masks and different measures. In the primary tranche, Rs 2,000 was supplied to every lively and practical BC within the month of April 2020. In May, every practical BC shall be supplied Rs 1,000 for hygiene upkeep, the financial institution mentioned.
Further, the financial institution pays an quantity of Rs 100 per working day in direction of transportation as an incentive to the BCs to encourage them to increase their companies from 10 am to five pm until June 30, 2020, (besides the place native stage restrictions are imposed), topic to minimal 40 transactions. The lender’s Executive Director Vikramaditya Singh Khichi mentioned, “The Business Correspondents are an extended family for us and are performing a very important role in our fight against COVID-19 on the economic front.
“They are our connect with the plenty of India and a key half of our Bank’s efforts to ship the advantages of the federal government’s monetary package deal beneath PM Garib Kalyan Yojana (PMGKY), PM Kisan Samman Nidhi Yojana, pension and so on.” During these challenging times, they have been working very hard and putting in every effort to ensure that funds reach the beneficiaries in time. In recognition of their commitment and services as ‘Corona Warriors’ in the field, Bank of Baroda has taken these measures to safeguard their interests and for their welfare, Khichi said.