Guwahati: The Central Industrial Security Force (CISF) has taken a significant step towards bolstering the welfare and financial security of its members by signing a Memorandum of Understanding (MoU) with the State Bank of India (SBI). This agreement, part of the Central Armed Police Salary Package (CAPSP), was formalised at a function held in Delhi.
The MoU is tailored to manage the salary accounts of both serving and retired CISF personnel, offering a range of enhanced financial benefits. Approximately 1.9 lakh CISF employees nationwide, including 273 stationed at the Digboi Refinery in Assam’s Tinsukia District, will benefit from this collaboration. Significant enhancements under this MoU include an increase in Personal Accident Insurance (PAI) for serving personnel from Rs 1 lakh to Rs 1 crore.
For pensioners, the PAI has been raised from Rs 30 lakh to Rs 50 lakh, marking a substantial improvement in the insurance cover provided to retired personnel. Additionally, air accident insurance coverage has been elevated from Rs 1 crore to Rs 1.5 crore, subject to specific conditions. The cover for permanent total and partial disability for serving personnel has been enhanced from Rs 50 lakh to Rs 1 crore.
This collaboration underscores CISF’s commitment to improving the financial security of its workforce by collaborating with leading institutions like SBI. The initiative reflects CISF’s dedication to the wellbeing of its members across all stages of their careers. The MoU was signed by Rekha Nambiar, Deputy Inspector General/Administration of CISF, and Ranjana Sinha, General Manager (NRI & SP) of SBI Corporate Centre, Mumbai, and will last for three years.
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