Partnership renewed to provide insurance, financial benefits to police personnel
Key Points:
- ₹10 lakh term life insurance added under renewed MoU
- 32 officers receive accidental insurance benefits worth ₹9 crore
- Police Salary Package Account offers aid to 43 families
RANCHI – Jharkhand Police and State Bank of India have extended their partnership agreement to provide enhanced insurance coverage and financial assistance to police personnel and their families.
The memorandum of understanding was expanded on October 9, 2025. Police Director General addressed officers at the headquarters in Ranchi. Moreover, senior SBI officials from Patna Mandal also attended the session.
Enhanced Insurance Coverage
The revised agreement introduces a ₹10 lakh term life insurance. This coverage benefits families of deceased officers. Additionally, it applies even when death occurs off-duty. However, natural causes must be the reason.
The existing package already includes comprehensive protection. Officers receive ₹1 crore accidental death coverage. Furthermore, ₹1.60 lakh life insurance is provided. Partial disability claims reach ₹80 lakh. Meanwhile, full disability coverage extends to ₹1 crore.
Benefits Distributed Since 2023
The 2023 agreement has yielded significant results. Thirty-two officers received accidental insurance benefits totaling ₹9 crore. In addition, nine families obtained various support measures. The Police Salary Package Account assisted 43 households overall.
DGP expressed gratitude toward SBI for the initiative. He stated the bank prioritized officers’ welfare significantly. On the other hand, Chief General Manager Vikash Kumar Pandey received appreciation. A commendation roll honored his dedicated efforts.
Officials Present at Ceremony
Several senior officers participated in the event. Additional DG Prabhat Kumar represented special branch operations. Inspector General N Vijayalakshmi oversaw training administration matters. Besides, IG Kranti Kumar Gadigeri managed personnel affairs.
Superintendent Michael Raj handled Abhiyan division responsibilities. Furthermore, Deputy SP Anup Bisware coordinated Jaguar operations. DIG Indrajit Mahatha supervised headquarters functions. Similarly, SP S Karthik managed SAP-110 operations.
The gathering also included Deputy IG Surendra Kumar Jha. He oversees personnel and records management. Additionally, Deputy IG Chauthe Manoj Ratan attended. DIG Sandhya Rani Mehta represented training operations.
State Bank representatives included Deputy General Manager Vivek Chandra Jayaswal. Regional Manager Manoj Kumar also participated. Moreover, DGM-B Ravindra Kumar represented Ranchi operations. Other senior banking officials were present too.
Financial Support Framework
The agreement establishes structured financial assistance mechanisms. Officers can access emergency funds during crises. However, proper documentation remains mandatory for claims. The system ensures prompt disbursal of benefits.
SBI maintains dedicated service counters for personnel. These facilities expedite various banking transactions. In contrast, traditional processes often cause delays. The specialized approach enhances overall convenience significantly.
Jharkhand Police operates approximately 7,500 personnel statewide. The force handles law enforcement across 24 districts. Meanwhile, officers face daily operational challenges. This partnership addresses their welfare concerns effectively.
