Bhubaneswar: Reinforcing its commitment to employee welfare and inclusive growth, National Aluminium Company Limited (NALCO), a Navratna CPSE under the Ministry of Mines, has introduced an expanded Group Personal Accident Insurance Scheme for both its regular and contractual workforce. This initiative aligns with the Central Government’s broader vision of transforming India’s mining sector through reforms focused on safety, social security, and sustainable development.
₹1 Crore Accident Insurance for Regular Employees
As a major part of this initiative, all regular employees of NALCO will now be covered under a Group Personal Accident Insurance Scheme offering a ₹1 crore coverage in the event of accidental death while on duty. This insurance will be facilitated through corporate salary accounts held with State Bank of India (SBI) and other partner banks.
This high-value insurance coverage is aimed at providing enhanced financial security to the families of employees, ensuring that their livelihoods are safeguarded even in unforeseen circumstances.
Improved Coverage for Contractual Workers
In a progressive move toward inclusive social security, contractual workers have also been brought under the ambit of this scheme. Under the new policy:
- Each contractual worker is insured for ₹20 lakh in the event of accidental death while on duty.
- An additional ₹10 lakh coverage is provided in the case of permanent disability.
This is a significant step, as contractual workers in heavy industries and mining operations often lack access to formal social protection programs.
Aligned with National Vision for Mining Sector Reform
This initiative is being implemented in line with the visionary leadership of Hon’ble Prime Minister Narendra Modi, who has consistently emphasized the need for worker-centric reforms in the mining and industrial sectors. Under his leadership, the sector has witnessed sweeping reforms aimed at improving worker safety, skill development, social inclusion, and welfare.
Guided by the Ministry of Mines, under Hon’ble Union Minister G. Kishan Reddy, NALCO’s initiative reflects its commitment to upholding the highest standards of corporate social responsibility and employee welfare.
A Model for Inclusive and Sustainable Industrial Growth
As India’s leading integrated aluminium producer with its own mining, refining, and smelting operations, NALCO continues to set a benchmark for responsible business practices. The new insurance scheme is not just a financial tool but a symbol of the company’s proactive approach to ensuring safety, dignity, and well-being of its workforce.
By addressing both permanent and contractual employees, the company is making a clear statement: no segment of the workforce should be left behind in matters of social security and risk protection.
About NALCO
National Aluminium Company Limited (NALCO), a Navratna CPSE under the Ministry of Mines, is one of the largest integrated aluminium producers in India. With a strong focus on sustainability and renewable energy adoption, NALCO continues to align its operations with India’s clean energy transition and long-term environmental goals.
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