Bhubaneswar : Odisha Power Transmission Corporation Limited (OPTCL) on Monday forged a significant partnership with Union Bank of India (UBI) by signing a Memorandum of Understanding (MoU) to roll out a specially curated Salary Package Scheme for its workforce.
The agreement was formalised at Lokseva Bhawan in the august presence of Hon’ble Deputy Chief Minister Shri Kanak Vardhan Singh Deo, who also oversees the portfolios of Energy and Agriculture & Farmers’ Empowerment. Speaking on the occasion, he said the initiative reflects a forward-looking, employee-focused collaboration between OPTCL and Union Bank of India. “This is a positive and progressive step for our OPTCL family, marking the beginning of a long and welfare-centric association,” he remarked.
The ceremony was attended by Principal Secretary (Energy) Shri Vishal Kumar Dev, CMD, OPTCL, Shri Bhaskar Jyoti Sarma, senior state government officials, and representatives from Union Bank of India.
Enhanced Financial Security for OPTCL Staff
The newly introduced package promises extensive financial protection and value-added services for all regular employees, regardless of rank or role. The major features include:
Robust Insurance Coverage
- ₹1.20 crore Personal Accident Insurance for each employee.
- ₹20 lakh Term Life Insurance as an additional safety net.
Medical Support
- Annual Hospital Cash Allowance of ₹30,000, helping mitigate sudden medical expenses.
Premium Banking Benefits
Each employee will receive a RuPay Select Debit Card linked to a Zero-Balance Savings Account, offering:
- ₹15 lakh additional accidental insurance
- Lifestyle benefits worth ₹75,000 annually at zero cost, such as:
- Complimentary airport lounge access
- Quarterly health check-ups
- Free transactions and value-added digital services
Ensuring Continuity and Extending Welfare to Retirees
OPTCL announced that salary accounts previously held with Union Bank of India will be seamlessly transitioned into this upgraded scheme without any additional formalities for employees.
In addition, Union Bank of India has introduced “Union Samman”, a tailored welfare package dedicated to OPTCL pensioners, ensuring that retired employees also receive comprehensive financial and lifestyle benefits.
Expressing appreciation, OPTCL’s leadership acknowledged Union Bank’s proactive effort in developing a holistic scheme that mirrors the needs of the organisation’s workforce. They also extended gratitude to the Government of Odisha for its consistent support and guidance in facilitating employee welfare initiatives.
