Sri Vijaya Puram, Jan. 29: The Andaman and Nicobar Police has signed an upgraded Memorandum of Understanding (MoU) with the State Bank of India for a special Police Salary Package (PSP), to provide better banking services and additional facilities for the police personnel of Andaman and Nicobar Police. The Police Salary Package (PSP) is a package designed for the personnel of Andaman and Nicobar Police. Hitherto, the salary accounts of police personnel in SBI were governed by the previous MoU signed in January 2023, under which only basic privileges were available. With the signing of the revised and upgraded MoU, the Andaman & Nicobar Police has secured several enhanced advantages and benefits for its personnel and their families.
Under this revised package, some of the benefits offered include Personal Accidental Insurance cover (110 lakhs), Permanent Total Disability Cover of Rs. 100 lakhs and Permanent Partial Disability Cover of 80 lakhs, etc., SBI Rishtey Family Saving Account with benefits for up to 04 family members, etc. The package also offers preferential rates of interest on various loans offered by SBI as well as waiver of annual charges, processing fees, etc.
Further, in case of death of the A&N Police personnel, the family of the deceased will be provided with free add-on covers such as expenses on Air Ambulance, cost of child education, marriage of girl child, etc.
Several of these benefits will continue even after the superannuation of the employee.
All the benefits as per the MoU will be automatically extended to all A&N Police personnel who are covered under PSP (Police Salary Package). This initiative has been undertaken as a part of welfare measures for the personnel and families of Andaman and Nicobar Police.