HDFC Bank has entered into a Memorandum of Understanding (MoU) with Steel Authority of India Limited (SAIL) for Corporate Salary Relationship.
The strategic collaboration extends a host of exclusive benefits to over 60,000 on-roll and 65,000 contractual employees of SAIL through HDFC Bank’s Corporate Salary Account (CSA).
SAIL, one of India’s premier steel-making companies and a giant among the country’s central public sector enterprises, stands to enhance its employee welfare offerings with this partnership.
Employees transitioning to HDFC Bank’s CSA will gain access to a wide array of facilities tailored to meet their banking needs.
The benefits exclusive to SAIL employees under this relationship include a family banking facility, personal and air accident cover, medical top-up, and an exclusive range of credit cards.
Moreover, they will have access to attractive offers on personal loans, home loans, auto loans, and two-wheeler loans, enhancing their overall banking experience.
This collaboration underscores HDFC Bank’s commitment to serving employees across diverse industries.
It marks the bank’s fifth association with a Public Sector Undertaking (PSU) for corporate salary relationships.
HDFC Bank has previously facilitated salary accounts for employees of PSUs operating in various sectors, including petroleum, infrastructure, food security, and warehousing.
Manoj Mehta, Senior Vice President & Zonal Head EBFS, HDFC Bank, expressed optimism about the partnership, stating, “Through this partnership, we look forward to catering to the banking needs of the 1,20,000 strong employee-base. They will have the benefit of an enhanced and differentiated experience as the benefits associated with a salary account are tailored to meet the needs of different industries.”
The MoU was formally signed by Praveen Nigam, Executive Director – Finance & Accounts, SAIL, and Mehta in the presence of other senior officials, including Manas Ranjan Rath – Chief General Manager HR, SAIL, and Madhvi Vashist – General Manager Finance, SAIL, among others.
