OHPC Signs MoU with Union Bank of India for Enhanced Salary Account Benefits for Employees

Bhubaneswar: Odisha Hydro Power Corporation Limited (OHPC) on Monday signed a Memorandum of Understanding (MoU) with Union Bank of India (UBI) at Lok Seva Bhawan for the introduction of a customised Union Super Salary Account for OHPC employees.

The MoU was signed in the august presence of Kanak Vardhan Singh Deo, Deputy Chief Minister, Agriculture & Farmers’ Empowerment and Energy, who lauded the initiative as a progressive step towards ensuring financial security and well-being of the workforce.

The ceremony was attended by Vishal Kumar Dev, IAS, Principal Secretary to Government, Energy Department, Government of Odisha and Chairman-cum-Managing Director, OHPC, Saidutta Biplab Keshari Pradhan, OAS (SAG), Additional Secretary, Energy Department, Pranab Kumar Mohanty, Director (Finance), Sandeep Patnaik, Director (HR), Amiya Kumar Mohanty, Director (Operation), OHPC, Harekrushna Das, General Manager & Zonal Head, UBI, along with other senior officials from OHPC and Union Bank of India.

The MoU was formally signed on behalf of OHPC by Gagan Bihari Moharana, Senior General Manager (Finance), while N. Barik, Deputy General Manager, signed on behalf of Union Bank of India.

As per the agreement, each OHPC employee will be entitled to a personal accident insurance cover of ₹1.20 crore, along with an additional term life insurance cover of ₹20 lakh. The package also includes an annual hospital cash benefit of ₹30,000. Employees will receive a zero-balance savings bank account with a RuPay Select debit card, offering an additional accidental insurance cover of ₹15 lakh.

The salary account also provides annual lifestyle benefits worth ₹75,000 at no extra cost, including complimentary airport lounge access, quarterly free health check-ups, and free banking transactions.

Appreciating the initiative, the Deputy Chief Minister and the Principal Secretary, Energy Department, commended OHPC and Union Bank of India for taking concrete steps to enhance employee welfare and financial security through institutional collaboration.