Coronavirus: Public Sector Bank employee? Modi government salutes you - Big decision on money, insurance taken

It's a proud moment, and good news as well for the employees and families of Public Sector Banks (PSBs). Saluting the efforts of bankers to provide services amid coronavirus threat, the Modi government has provided insurance cover to employees in case of an unfortunate death due to the deadly virus. Praiseworthy, banks have also expressed their commitment to ensuring the well being of their employees by providing protective gear and medical care. Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman have praised bankers for carrying on with their duties in these challenging times.

"Salute to all bankers providing services across India in this critical time. To ensure their safety, PSBs have provided health cover (incl of #Covid-19) to all employees and also lumpsum compensation in case of an unfortunate death due to #Corona," the Finance Ministry said in a tweet.

Moreover, dedicated doctors have been appointed for banks' employees and also set up helpline to attend to the concerns of staff. Reportedly, banks have designed their own customised product keeping in mind interest of their employees and up to Rs 20 lakh lumpsum amount will be paid to relative in case of unfortunate event due to COVID-19.

Several banks including SBI, Punjab National Bank, Union Bank of India and Indian Bank have taken various steps to ensure safety of their employees and protect them from coronavirus. The country's largest lender State Bank of India (SBI) has set up a quick response team to keep the staff motivated amid the coronavirus outbreak. The bank has set up a helpline number manned by doctors and psychologists to assist its staff and employees to deal with the coronavirus outbreak as well as stress and anxiety related to this.

Financial services are part of some of the essential services which have been operational during the lockdown that will continue till May 3.