Srinagar, June 09: The Jammu and Kashmir Government on Tuesday signed a Memorandum of Understanding (MoU) with J&K Bank to extend accidental insurance cover, banking facilities and credit-related benefits to daily-rated workers, contractual employees and other casual workers engaged by the government.
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Under the agreement, eligible beneficiaries will receive Group Personal Accident Insurance cover of ₹5 lakh along with disability-related insurance benefits.
The MoU was signed in the presence of Chief Secretary Atal Dulloo, Financial Commissioner Finance Shailendra Kumar and J&K Bank MD & CEO Amitava Chatterjee, among other senior officials.
Officials said the initiative aims to bring contractual employees and daily wagers under a structured framework of financial protection and banking convenience.
The package also includes zero-balance bank accounts, free debit cards, digital banking services, concessional remittance facilities and specially designed credit products.
Speaking on the occasion, Chief Secretary Atal Dulloo said extending insurance coverage to daily wagers would enhance their sense of financial security and well-being.
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J&K Bank MD & CEO Amitava Chatterjee said the initiative would strengthen access to formal financial services while providing a vital layer of financial protection to workers and their families.
