COVID-19: Bank of Baroda announces ex-gratia, health coverage for biz correspondents

NEW DELHI: State-owned Bank of Baroda on Saturday said it will provide an ex-gratia payment of Rs 10 lakh to the closest relatives of business correspondents (BC) in case of loss of life due to COVID-19.

It will also provide health insurance coverage of Rs 60,000 to the BCs.

The bank has taken steps for BC’s financial security in terms of paying ex gratia of Rs 10 lakh to the nominee in case of loss of life due to COVID-19, and a health insurance facility of Rs 60,000 for each active BC, it said in a statement .

The Bank of Baroda said, to ensure hygiene and safety maintenance, it also provides additional support in tranches to keep BC items disinfected and clean through sanitary means, disinfectants, mask use and other measures.

In the first installment, Rs 2,000 was provided for each active and functional BC. in April 2020.

In May, each functional BC will be provided Rs 1,000 for hygiene maintenance, the bank said.

In addition, the bank pays Rs 100 per annum. Labor Day work in conjunction with transportation as an incentive for BCs to encourage them to expand their services from 6 p.m. 10-17. Until June 30, 2020 (except when local-level restrictions are imposed), subject to at least 40 transactions.

Lender CEO Vikramaditya Singh Khichi said: “The business correspondents are an extended family to us and play a very important role in our fight against COVID-19 on the financial front.

“They are our connection to the masses in India and an important part of our Bank’s efforts to deliver the benefits of the government’s financial package under Prime Minister Garib Kalyan Yojana (PMGKY), Prime Minister Kisan Samman Nidhi Yojana, retirement, etc.”

In these challenging times, they have worked very hard and made every effort to ensure that the funds reach the beneficiaries on time. In recognition of their commitment and services as ‘Corona Warriors’ in the field, the Bank of Baroda has taken these measures to protect their interests and for their welfare, Khichi said.

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