OPTCL and Union Bank of India Sign MoU for Exclusive Employee Salary Package

Bhubaneswar, November 24, 2025 : Odisha Power Transmission Corporation Limited (OPTCL) today marked a momentous occasion by signing a Memorandum of Understanding (MoU) with Union Bank of India (UBI) to implement an exclusive, comprehensive Salary Package Scheme for all its employees.

The official signing ceremony took place at Lokseva Bhawan in the kind presence of Shri Kanak Vardhan Singh Deo, Hon’ble Deputy Chief Minister of Odisha, who also holds the portfolios of Energy and Agriculture & Farmers’ Empowerment. It is a welcoming step for our OPTCL employees. The partnership today signifies a long, meaningful, and welfare-oriented association between OPTCL and Union Bank of India said Shri Kanak Vardhan Singh Deo.

The event was graced by the esteemed presence of the Principal Secretary, Energy, Shri Vishal Kumar Dev, CMD, OPTCL, Shri Bhaskar Jyoti Sarma and other dignitaries from the Government of Odisha, alongside senior officials from Union Bank of India.

Unprecedented Financial Security for OPTCL Employees
The newly launched scheme provides unparalleled financial security, offering substantial benefits to every regular employee, irrespective of their cadre or designation. Key highlights of the package include:

Comprehensive Insurance Cover: Each employee will receive a Personal Accident Insurance of ₹1.20 Crore, along with an additional Term Life Insurance cover of ₹20 Lakh.

Hospitalization Support: The scheme includes an annual Hospital Cash benefit of ₹30,000/-.

Premium Debit Card Benefits: Employees will be issued a RuPay Select Debit Card on their Zero Balance Savings Bank (SB) accounts, which comes with: Additional accidental insurance coverage of ₹15 Lakh.

Annual lifestyle benefits worth ₹75,000/- at no extra cost, including free airport lounge facility, quarterly free health check-ups, and free transactions.

Commitment to Employee Welfare
During the ceremony, it was announced that existing accounts maintained earlier with Union Bank of India will automatically migrate to the new scheme, ensuring a seamless transition. Furthermore, the commitment to the OPTCL family extends beyond current staff.

“Union Samman,” a similar welfare-oriented package, has been specially designed for OPTCL pensioners, extending the comprehensive benefits to the retired community as well.

The management of OPTCL thanked Union Bank of India for its proactive approach in designing a scheme that is truly aligned with the needs of its employees and expressed deep gratitude to the Government of Odisha for its continued guidance and support.