Srinagar: Lieutenant Governor Manoj Sinha on Wednesday rolled out the ‘Accidental Insurance Scheme’ of Rs 15 lakh for employees of the Jammu and Kashmir government.
Under the scheme, the Jammu anf Kashmir Bank will extend free group personal insurance cover of Rs 15 lakh to all the employees.
The Lt Governor also launched J&K Bank’s ‘Phone Pe Loan’ facility for government employees.
He said people-centric initiatives such as ‘Phone Pe Loan’ and ‘Accidental Insurance Cover’ will ensure hassle-free credit flow and social security net for employees.
The J&K Bank, with a strong & diversified banking system and serving all sectors of the economy, is reaching out to all sections of society for financial inclusion & delivering financial services to the last man in queue, the Lt Governor observed.
With consistent reforms in the last two years, the J&K Bank has demonstrated resilience in adapting to the challenges, and emerged as one of the most trusted & reliable banks in the UT, said the Lt Governor.
He directed the bank to enhance the insurance amount from Rs 15 lakh to Rs 25 lakh from the next financial year.
Highlighting several steps being taken to end the non-transparent credit culture and to bridge the gap in credit availability, the Lt Governor said the UT government is making dedicated efforts to strengthen the credit flow system.