Bank of Baroda is going to pay INR 10 Lakh if your business is suffering due to COVID-19

The public sector bank, Bank of Baroda has stated that they are extending their financial support to the businesses via ex-gratia of INR 10 lakh if anyone has lost his life and health insurance cover of INR 60,000 fur to COVID-19 Pandemic.

The bank stated-“Besides, to ensure maintenance of hygiene and safety, the bank is also providing additional support in tranches to keep the BC points sanitized and clean through sanitizers, disinfectants and use of mask. In the first tranche, ₹2,000 was provided to each active and functional BC in the month of April 2020. In May, each active and functional BC will be provided ₹1,000 for hygiene maintenance purposes,”

They have also said that they are going to pay INR 100 per working days to the transportation as an incentive so that it will encourage the people to work from 10 am to 5 pm till 30th June.

The bank said- “They are our connect to the masses of India and a key part of our bank’s efforts to deliver the benefits of the government’s financial package under PM Garib Kalyan Yojana (PMGKY), PM Kisan Samman Nidhi Yojana, Pension etc. While we pray for the well-being and safety of the BCs, the bank has taken steps for their financial security, in terms of ex-gratia payment of ₹10 lakh to the nominee in case of loss of life of BC due to covid-19, and health insurance facility of ₹60,000 to each active BC,”