TGSRTC Strengthens Employee Welfare With ₹1 Crore Accident Insurance Payout

In a major welfare initiative aimed at strengthening the financial security of transport workers, the Telangana State Road Transport Corporation (TGSRTC) and Union Bank of India jointly extended accident insurance assistance of ₹1 crore each to the families of two RTC drivers who lost their lives in separate road accidents.

The financial assistance was distributed during a programme held at Bus Bhavan in Hyderabad on Tuesday. The initiative is part of the state government’s broader focus on employee welfare under the leadership of Chief Minister A. Revanth Reddy , with officials describing the scheme as a critical safety net for families of employees working in high-risk conditions.

The beneficiaries were the families of Sudhakar , a driver from the Picket Depot , and Srinivas Reddy of the Parigi Depot , both of whom died in recent accidents. According to officials, Srinivas Reddy was killed after a milk tanker rammed into his two-wheeler while he was travelling to the depot, while Sudhakar succumbed to injuries sustained after being hit by a speeding motorcycle.

The compensation was provided under the Union Bank Super Salary Savings Account (USSA) scheme, a salary-linked banking programme available to TGSRTC employees. Staff members who maintain salary accounts with Union Bank and use RuPay debit cards are eligible for free accidental insurance coverage of up to ₹1 crore in the event of accidental death.

The insurance cheques were jointly handed over by TGSRTC Vice Chairman and Managing Director Y. Nagi Reddy , Union Bank Chief General Manager M. Ravindra Babu , and Regional Head D. Venkateswarlu .

Addressing the gathering, Y. Nagi Reddy said the government was committed to ensuring both social and financial protection for RTC employees and their families. He noted that transport workers face constant road-related risks due to long working hours and demanding operational conditions, making insurance coverage extremely important.

Officials said the TGSRTC-Union Bank partnership had been expanded significantly in recent years. In 2024, the corporation enhanced accident insurance coverage for employees from ₹40 lakh to ₹1 crore under the same banking arrangement. The scheme has since emerged as a crucial support system for families suddenly left without their primary breadwinner.

Nagi Reddy also thanked Union Bank of India for extending timely support to RTC workers and standing by affected families during difficult times.