NLC India Ltd. (NLCIL) has inked a Memorandum of Understanding (MOU) with Punjab National Bank, Union Bank of India and State Bank of India for empanelment of corporate salary accounts of its employees.

The MoU was signed by Dhanapal, Chief General Manager, Finance-Treasury of NLCIL with the representatives of these three banks in the presence of Prasanna Kumar Motupalli, Chairman-cum-Managing Director of NLCIL.

According to a press release, the collaboration offers a host of features like personal accident cover up to ₹135 lakh, air accident cover up to ₹250 lakh, group term insurance of ₹10 lakh, disability cover and child education among others.

NLCIL will facilitate the banks in conducting awareness campaigns among employees to ensure maximum participation and understanding of the scheme for enrollment under the corporate salary account.