WR, SBI handover Rs 1 cr insurance payout to deceased railway family

By statetimes_editor Last updated Mar 18, 2026

STATE TIMES NEWS

Pankaj Singh along with Manju Sharma presenting a cheque of RS 1 crore to wife of deceased Railway employee.

MUMBAI: In a significant demonstration of its commitment towards employee welfare, the family of a Senior Motorman of Mumbai Central Division, Western Railway, who tragically lost his life in an on-duty incident, has been provided an insurance payout of Rs 1 crore.
According to a press release issued by the Chief Public Relations Officer, Western Railway, Vineet Abhishek, this marks the first such insurance payout in Mumbai Central Division and has been made possible under the Memorandum of Understanding (MoU) signed between Indian Railways and State Bank of India in September 2025 under the enhanced Railway Salary Package (RSP) scheme.
Pankaj Singh, Divisional Railway Manager, Mumbai Central Division, and Manju Sharma, Chief General Manager, Mumbai Metro Circle, SBI, handed over a cheque of Rs 1 crore to the deceased employee’s wife in a solemn ceremony held at the Mumbai Central Division office on 16th March, 2026, in the presence of senior railway and SBI officials.
The Personnel Department of Mumbai Central Division played a crucial role in ensuring timely disbursement of all settlement dues, including ex-gratia payment and other eligible compensations. The insurance payout is in addition to the settlement dues already provided to the family as per railway policy.
Under the RSP scheme, Railway employees maintaining salary accounts with SBI are entitled to comprehensive banking facilities along with insurance coverage, including accidental death cover of ? One crore without any premium or medical examination. The late Senior Motorman had opted for this scheme, ensuring financial security for his dependents.
This initiative reflects the continued commitment of Indian Railways towards the welfare of its employees and the financial security of their families.