NLC India Limited (NLCIL) had entered into a Memoranda of Understanding (MoUs) with leading Public Sector banks including State Bank of India (SBI), Punjab National Bank (PNB), Union Bank of India and Indian Bank in April 2025 and February 2026 to provide Corporate Salary Accounts to employees. These agreements offered enhanced welfare benefits and special banking features.

As part of this initiative, Officials of State Bank of India (SBI) handed over cheques amounting to ₹1.10 Crore towards settlement of Personal Accident Insurance and Group Term Life Insurance claims to the family members of a deceased NLCIL employee. The cheques were presented in the august presence of Minister for Coal & Mines G Kishan Reddy during his visit to Neyveli.

The settlement was facilitated under the Corporate Salary Package (CSP) tie-up between SBI and NLC India Limited, ensuring comprehensive financial protection and social security coverage to employees and their families.

The bereaved family members expressed their heartfelt gratitude to the Minister, the Management of NLCIL and the officials of SBI for their prompt support and compassionate assistance for settlement of the insurance claims.

This initiative reaffirms NLCIL’s steadfast commitment to the wellbeing of its workforce through structured banking partnerships that seamlessly integrate financial convenience with meaningful social security coverage thereby strengthening overall employee value propositions.