In a landmark initiative, the Punjab School Education department has partnered with Canara Bank to introduce a comprehensive insurance scheme to provide accidental insurance cover of Rs. 16 lakh and other benefits for the security of as many as 44,301 Mid-Day Meal Cook-cum-Helpers working in state government schools across the state, announced S. Harjot Singh Bains, Minister of School Education, Punjab.
A Memorandum of Understanding (MoU) was signed between Directorate of Elementary Education (Mid-Day Meal), and Canara Bank Chandigarh, in the presence of the School Education Minister S. Harjot Singh Bains and School Education Secretary Ms. Anindita Mitra, IAS, on Thursday. This collaboration aims to provide vital financial protection and security to Cook-cum-Helpers.
Highlighting the key features of the insurance scheme, S. Harjot Singh Bains informed that it offers comprehensive benefits, including Term Insurance with Rs. 1 lakh coverage for death with natural causes, Rs. 16 lakhs for death due to accident, Air Accident Cover with Rs. 18 lakhs coverage. Furthermore, the scheme provides hassle-free banking with no minimum balance requirement, an Instant Overdraft Facility of up to Rs. 10,000 or 50% of the previous month's net salary credited into their bank accounts to ensure ease and convenience for account holders.
“This scheme will greatly enhance the well-being of these essential workers to enable them to focus on their critical role in supporting our education system”, said S. Harjot Singh Bains while adding that this initiative will go a long way to promote financial inclusion and security for Cook-cum-Helpers in the state government schools.